Pla-Fit Franchise, LLC 401(k) Review & Grade
Planet Fitness 401(k) Plan
Hampton, NHArts, Entertainment & Recreation2,574 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$587Employer $ per active participant
$1,247Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$37.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.3 / 5021th percentile for employer $ per participant
- Low cost6.0 / 2524th percentile for low admin cost vs. same-size plans
- Employee saving3.1 / 1521th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 2,500–9,999 active participants (35 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 21th |
| Lower admin cost | 24th |
| Employee saving | 21th |
| Peers that auto-enroll | 43% |
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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
- Pla-Fit Franchise put in about $587 per active participant, below the typical peer ($1,107). 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 (0.29% 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.
- 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 | $1,510,414 |
| Participant (employee) contributions | $3,208,272 |
| Other contributions (incl. rollovers in) | $599,581 |
| Administrative expenses paid from the plan | $100,546 |
| Contract administrator fees | $14,664 |
| Investment advisory & management fees | $85,882 |
| Benefits paid out | $4,568,098 |
| Net assets, start / end of year | $32.1M / $37.3M |
| Active participants, start / end of year | 2,464 / 2,683 |
| Participants with account balances | 571 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caron & Bletzer, PLLC |
Largest service providers (Schedule C)
| Creative Planning, LLC | $85,894 reported compensation |
| Principal Life Insurance Company | $14,664 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250714094841NAL0000890577001, received 2025-07-14, EIN 59-3764075, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.