Pay and Save Inc 401(k) Review & Grade
Pay and Save Inc 401k Plan
Littlefield, TXRetail Trade2,814 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$747Employer $ per active participant
$1,051Employee $ saved per active participant
0.52%Direct admin cost, % of plan assets
$63.8MNet plan assets, end of year
$28,255Average balance per account
Score breakdown
- Employer generosity27.7 / 5055th percentile for employer $ per participant
- Low cost3.0 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving3.3 / 1522th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 12th |
| Employee saving | 22th |
| Peers that auto-enroll | 42% |
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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
- Pay and Save put in about $747 per active participant, more than the typical peer ($650). 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 (0.52% 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 | $2,101,737 |
| Participant (employee) contributions | $2,957,100 |
| Other contributions (incl. rollovers in) | $204,894 |
| Administrative expenses paid from the plan | $315,203 |
| Contract administrator fees | $314,911 |
| Investment advisory & management fees | $292 |
| Benefits paid out | $6,054,063 |
| Net assets, start / end of year | $57.2M / $63.8M |
| Active participants, start / end of year | 2,910 / 2,718 |
| Participants with account balances | 2,259 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Johnson & Sheldon, PLLC |
Largest service providers (Schedule C)
| Benefit Plans Admin Services, Inc. | $191,213 reported compensation |
| Amarillo National Bank | $123,990 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008063919NAL0008919216001, received 2025-10-08, EIN 75-1574481, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.