New Horizon Kids Quest, Inc. 401(k) Review & Grade
New Horizon Kids Quest, Inc. 401(k) Retirement Savings Plan
Plymouth, MNOther Services2,360 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$177Employer $ per active participant
$962Employee $ saved per active participant
0.67%Direct admin cost, % of plan assets
$19.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.2 / 5014th percentile for employer $ per participant
- Low cost3.5 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving3.4 / 1523th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score17 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 14th |
| Employee saving | 23th |
| Peers that auto-enroll | 40% |
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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
- New Horizon Kids Quest put in about $177 per active participant, below the typical peer ($1,257). 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 (0.67% 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.
- 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 | $418,391 |
| Participant (employee) contributions | $2,269,060 |
| Other contributions (incl. rollovers in) | $162,826 |
| Administrative expenses paid from the plan | $115,668 |
| Contract administrator fees | $109,342 |
| Investment advisory & management fees | $6,326 |
| Benefits paid out | $906,784 |
| Net assets, start / end of year | $15.2M / $19.2M |
| Active participants, start / end of year | 2,265 / 2,454 |
| Participants with account balances | 1,115 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Froehling Anderson, LTD |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $23,326 reported compensation |
| Bremer Bank | $6,337 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014125659NAL0001377315001, received 2025-10-14, EIN 41-1719363, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.