Brown & Joseph, LLC 401(k) Review & Grade
Armstrong 401(k) Plan
Itasca, ILProfessional, Scientific & Technical Services1,502 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,514Employer $ per active participant
$3,081Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$46.4MNet plan assets, end of year
$43,867Average balance per account
Score breakdown
- Employer generosity13.4 / 5027th percentile for employer $ per participant
- Low cost13.3 / 2553th percentile for low admin cost vs. same-size plans
- Employee saving2.3 / 1515th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 27th |
| Lower admin cost | 53th |
| Employee saving | 15th |
| 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
- Brown & Joseph put in about $1,514 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.
- 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 | $2,274,527 |
| Participant (employee) contributions | $4,626,934 |
| Other contributions (incl. rollovers in) | $7,084,493 |
| Administrative expenses paid from the plan | $71,411 |
| Contract administrator fees | $71,411 |
| Benefits paid out | $5,161,764 |
| Net assets, start / end of year | $22.4M / $46.4M |
| Active participants, start / end of year | 1,443 / 1,561 |
| Participants with account balances | 1,057 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| John Hancock USA | $51,653 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015120627NAL0002376147001, received 2025-10-15, EIN 82-4103407, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.