Biomerics, LLC 401(k) Review & Grade
Biomerics 401(k) Plan
Salt Lake City, UTManufacturing1,934 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,282Employer $ per active participant
$2,590Employee $ saved per active participant
0.56%Direct admin cost, % of plan assets
$49.7MNet plan assets, end of year
$41,172Average balance per account
Score breakdown
- Employer generosity12.3 / 5025th percentile for employer $ per participant
- Low cost4.9 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 25th |
| Lower admin cost | 20th |
| Employee saving | 18th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $591 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Biomerics put in about $1,282 per active participant, below the typical peer ($2,320). 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 (0.56% 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 | $2,479,870 |
| Participant (employee) contributions | $5,011,208 |
| Other contributions (incl. rollovers in) | $1,487,523 |
| Administrative expenses paid from the plan | $243,695 |
| Investment advisory & management fees | $85,038 |
| Other admin expenses | $27,300 |
| Benefits paid out | $5,792,634 |
| Net assets, start / end of year | $36.8M / $49.7M |
| Active participants, start / end of year | 2,024 / 1,845 |
| Participants with account balances | 1,208 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $131,357 reported compensation |
| Kestra Advisory Services LLC | $85,038 reported compensation |
| Crowe Horwath LLP | $27,300 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015123843NAL0006102208001, received 2025-10-15, EIN 26-4327437, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.