Fullbloom 401(k) Review & Grade
Fullbloom Retirement Savings Plan
Philadelphia, PAEducational Services6,160 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$307Employer $ per active participant
$2,566Employee $ saved per active participant
0.64%Direct admin cost, % of plan assets
$85.5MNet plan assets, end of year
$13,611Average balance per account
Score breakdown
- Employer generosity7.6 / 5015th percentile for employer $ per participant
- Low cost2.2 / 259th percentile for low admin cost vs. same-size plans
- Employee saving4.5 / 1530th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Educational Services plans with 2,500–9,999 active participants (34 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 9th |
| Employee saving | 30th |
| Peers that auto-enroll | 65% |
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Red flags from the filing
Corrective distributions: the plan refunded $16,038 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Fullbloom put in about $307 per active participant, below the typical peer ($1,155). 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 (0.64% 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 | $1,893,056 |
| Participant (employee) contributions | $15,805,097 |
| Other contributions (incl. rollovers in) | $1,123,403 |
| Administrative expenses paid from the plan | $489,231 |
| Contract administrator fees | $1,800 |
| Investment advisory & management fees | $46,125 |
| Benefits paid out | $10,147,779 |
| Net assets, start / end of year | $68.3M / $85.5M |
| Active participants, start / end of year | 6,365 / 5,955 |
| Participants with account balances | 6,282 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Torrillo & Associates, LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $418,706 reported compensation |
| Mma Securities LLC | $46,125 reported compensation |
| Torrillo & Associates LLC | $24,400 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925110113NAL0009694480001, received 2025-09-25, EIN 73-1685121, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.