Castle Management, LLC 401(k) Review & Grade
Castle Management, LLC 401(k) Plan
Plantation, FLReal Estate & Rental2,404 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$200Employer $ per active participant
$1,093Employee $ saved per active participant
0.89%Direct admin cost, % of plan assets
$18.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity4.0 / 508th percentile for employer $ per participant
- Low cost2.0 / 258th percentile for low admin cost vs. same-size plans
- Employee saving1.7 / 1511th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score8 / 100 · Grade F
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 8th |
| Lower admin cost | 8th |
| Employee saving | 11th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $61,022 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Castle Management put in about $200 per active participant, below the typical peer ($1,279). 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 (0.89% 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 | $481,383 |
| Participant (employee) contributions | $2,626,909 |
| Other contributions (incl. rollovers in) | $999,683 |
| Administrative expenses paid from the plan | $146,440 |
| Contract administrator fees | $126,505 |
| Other admin expenses | $5,575 |
| Benefits paid out | $1,969,089 |
| Net assets, start / end of year | $14.4M / $18.4M |
| Active participants, start / end of year | 2,282 / 2,526 |
| Participants with account balances | 63 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Verdeja & Alvarez, LLP |
Largest service providers (Schedule C)
| John Hancock Financial | $1,576 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260413095844NAL0022346128001, received 2026-04-13, EIN 61-1608997, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.