Document Storage Systems, Inc. 401(k) Review & Grade
Document Storage Systems, Inc. 401(k) Plan
North Palm Beach, FLInformation690 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,662Employer $ per active participant
$9,067Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$88.0MNet plan assets, end of year
$127,511Average balance per account
Score breakdown
- Employer generosity32.2 / 5064th percentile for employer $ per participant
- Low cost11.4 / 2546th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 46th |
| Employee saving | 52th |
| Peers that auto-enroll | 59% |
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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
- Document Storage Systems put in about $3,662 per active participant, more than the typical peer ($2,829). 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 | $2,526,844 |
| Participant (employee) contributions | $6,256,498 |
| Other contributions (incl. rollovers in) | $96,808 |
| Administrative expenses paid from the plan | $213,030 |
| Benefits paid out | $5,441,949 |
| Net assets, start / end of year | $74.2M / $88.0M |
| Active participants, start / end of year | 675 / 705 |
| Participants with account balances | 690 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohn Reznick, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $70,583 reported compensation |
| Broad Street Capital Partners LLC | $67,049 reported compensation |
| Empower Advisory Group, LLC | $61,490 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009142150NAL0003991459001, received 2025-10-09, EIN 43-1575286, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.