Balfour Payroll, LLC 401(k) Review & Grade
Balfour Payroll, LLC 401(k) Plan
Louisville, COProfessional, Scientific & Technical Services685 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$636Employer $ per active participant
$1,112Employee $ saved per active participant
0.94%Direct admin cost, % of plan assets
$2.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.6 / 5015th percentile for employer $ per participant
- Low cost1.8 / 257th percentile for low admin cost vs. same-size plans
- Employee saving0.8 / 156th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score13 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 7th |
| Employee saving | 6th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Balfour Payroll put in about $636 per active participant, below the typical peer ($3,082). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.94% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $435,998 |
| Participant (employee) contributions | $761,501 |
| Other contributions (incl. rollovers in) | $84,232 |
| Administrative expenses paid from the plan | $21,108 |
| Contract administrator fees | $21,108 |
| Benefits paid out | $747,518 |
| Net assets, start / end of year | $1.8M / $2.6M |
| Active participants, start / end of year | 714 / 656 |
| Participants with account balances | 196 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $14,904 reported compensation |
| Nova 401(k) Associates | $6,246 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013114149NAL0000547299001, received 2025-10-13, EIN 87-4581113, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.