Benesch, Friedlander, Coplan & Aronoff LLP 401(k) Review & Grade
Benesch, Friedlander, Coplan & Aronoff Elective Savings and Profit Sharing Plan
Cleveland, OHProfessional, Scientific & Technical Services703 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$11,928Employer $ per active participant
$16,696Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$202.4MNet plan assets, end of year
$240,406Average balance per account
Score breakdown
- Employer generosity47.0 / 5094th percentile for employer $ per participant
- Low cost20.8 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving14.1 / 1594th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score85 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 83th |
| Employee saving | 94th |
| Peers that auto-enroll | 48% |
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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
- Benesch, Friedlander, Coplan & Aronoff LLP put in about $11,928 per active participant, more than the typical peer ($3,082). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $8,385,666 |
| Participant (employee) contributions | $11,737,047 |
| Other contributions (incl. rollovers in) | $3,707,995 |
| Administrative expenses paid from the plan | $120,544 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $138,675 |
| Benefits paid out | $15,129,471 |
| Net assets, start / end of year | $174.2M / $202.4M |
| Active participants, start / end of year | 655 / 751 |
| Participants with account balances | 842 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Maloney & Novotny LLC |
Largest service providers (Schedule C)
| Ellsworth Advisors LLC | $138,675 reported compensation |
| Fidelity Investments Institutional | −$18,133 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250822103743NAL0008897408001, received 2025-08-22, EIN 34-6596918, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.