Modigent LLC 401(k) Review & Grade
Modigent LLC 401(k) Plan
Phoenix, AZConstruction1,448 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,000Employer $ per active participant
$3,677Employee $ saved per active participant
0.65%Direct admin cost, % of plan assets
$50.9MNet plan assets, end of year
$50,204Average balance per account
Score breakdown
- Employer generosity29.5 / 5059th percentile for employer $ per participant
- Low cost3.8 / 2515th percentile for low admin cost vs. same-size plans
- Employee saving7.0 / 1547th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 59th |
| Lower admin cost | 15th |
| Employee saving | 47th |
| Peers that auto-enroll | 44% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($37,435 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Modigent put in about $2,000 per active participant, more than the typical peer ($1,672). 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.
- 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $2,896,040 |
| Participant (employee) contributions | $5,325,015 |
| Other contributions (incl. rollovers in) | $3,724,628 |
| Administrative expenses paid from the plan | $261,579 |
| Investment advisory & management fees | $117,773 |
| Benefits paid out | $3,792,862 |
| Net assets, start / end of year | $29.9M / $50.9M |
| Active participants, start / end of year | 1,448 / 1,448 |
| Participants with account balances | 1,013 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pension Assurance LLP |
Largest service providers (Schedule C)
| Assetmark Retirement Services, Inc. | $261,579 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251210103616NAL0005259826001, received 2025-12-10, EIN 86-1027390, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.