Img Academy Parent, LLC 401(k) Review & Grade
Img Academy 401(k) Plan
Bradenton, FLEducational Services2,223 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,122Employer $ per active participant
$4,428Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$81.1MNet plan assets, end of year
$29,807Average balance per account
Score breakdown
- Employer generosity22.7 / 5045th percentile for employer $ per participant
- Low cost13.7 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 55th |
| Employee saving | 73th |
| Peers that auto-enroll | 37% |
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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
- Img Academy Parent put in about $1,122 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.
- 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.
- 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 | $2,494,057 |
| Participant (employee) contributions | $9,843,704 |
| Other contributions (incl. rollovers in) | $393,652 |
| Administrative expenses paid from the plan | $159,745 |
| Investment advisory & management fees | $45,833 |
| Other admin expenses | $20 |
| Benefits paid out | $8,252,424 |
| Net assets, start / end of year | $0 / $81.1M |
| Active participants, start / end of year | 2,098 / 2,348 |
| Participants with account balances | 2,722 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Caron & Bletzer, PLLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $113,913 reported compensation |
| LPL Financial | $45,833 reported compensation |
| Empower Financial Services, Inc. | $20 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250801095425NAL0003139459001, received 2025-08-01, EIN 85-4072455, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.