Education Affiliates, Inc. 401(k) Review & Grade
Education Affiliates, Inc. 401(k) Plan
Baltimore, MDEducational Services1,544 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,000Employer $ per active participant
$2,758Employee $ saved per active participant
0.65%Direct admin cost, % of plan assets
$46.7MNet plan assets, end of year
$25,322Average balance per account
Score breakdown
- Employer generosity17.8 / 5036th percentile for employer $ per participant
- Low cost3.8 / 2515th percentile for low admin cost vs. same-size plans
- Employee saving8.3 / 1555th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 36th |
| Lower admin cost | 15th |
| Employee saving | 55th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $9,238 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Education Affiliates put in about $1,000 per active participant, below the typical peer ($1,225). 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 (0.65% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,542,891 |
| Participant (employee) contributions | $4,257,020 |
| Other contributions (incl. rollovers in) | $302,116 |
| Administrative expenses paid from the plan | $291,988 |
| Contract administrator fees | $228,778 |
| Investment advisory & management fees | $40,210 |
| Benefits paid out | $7,700,779 |
| Net assets, start / end of year | $43.2M / $46.7M |
| Active participants, start / end of year | 1,535 / 1,552 |
| Participants with account balances | 1,843 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Almich & Associates |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $153,459 reported compensation |
| Orenda Retirement LLC | $96,322 reported compensation |
| Greenspring Advisors | $40,210 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250918075123NAL0001475152001, received 2025-09-18, EIN 20-1720350, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.