FJ Management Inc. 401(k) Review & Grade
FJ Management Inc. 401(k) Plan
Salt Lake City, UTWholesale Trade9,663 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,213Employer $ per active participant
$3,017Employee $ saved per active participant
0.37%Direct admin cost, % of plan assets
$278.6MNet plan assets, end of year
$18,144Average balance per account
Score breakdown
- Employer generosity22.5 / 5045th percentile for employer $ per participant
- Low cost4.4 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving3.2 / 1522th 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: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 18th |
| Employee saving | 22th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $120,871 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- FJ Management put in about $2,213 per active participant, below the typical peer ($2,459). 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 (0.37% of assets) are well above similar-size plans (0.12%). 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 | $21,384,841 |
| Participant (employee) contributions | $29,158,008 |
| Other contributions (incl. rollovers in) | $2,697,791 |
| Administrative expenses paid from the plan | $827,034 |
| Investment advisory & management fees | $117,848 |
| Benefits paid out | $34,505,979 |
| Net assets, start / end of year | $166.0M / $278.6M |
| Active participants, start / end of year | 7,235 / 12,091 |
| Participants with account balances | 15,357 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bangerter, Lund & Associates |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $709,186 reported compensation |
| Onedigital Investment Advisors | $117,848 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014095536NAL0001193907001, received 2025-10-14, EIN 94-1663458, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.