Project Inspire, Inc. DBA Rarebreed Veterinary P 401(k) Review & Grade
Rarebreed Veterinary Partners 401(k) Plan
Portland, MEProfessional, Scientific & Technical Services2,674 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,750Employer $ per active participant
$3,680Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$66.0MNet plan assets, end of year
$22,956Average balance per account
Score breakdown
- Employer generosity15.7 / 5031th percentile for employer $ per participant
- Low cost11.9 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score24 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 31th |
| Lower admin cost | 48th |
| Employee saving | 20th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($665,113 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
- Project Inspire, Inc. DBA Rarebreed Veterinary P put in about $1,750 per active participant, below the typical peer ($2,951). 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 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 | $4,678,491 |
| Participant (employee) contributions | $9,840,478 |
| Other contributions (incl. rollovers in) | $1,439,737 |
| Administrative expenses paid from the plan | $74,655 |
| Other admin expenses | $74,655 |
| Benefits paid out | $4,791,031 |
| Net assets, start / end of year | $47.7M / $66.0M |
| Active participants, start / end of year | 2,731 / 2,617 |
| Participants with account balances | 2,876 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker, Newman & Noyes, LLC |
Largest service providers (Schedule C)
| The Pension Service Inc. | $26,563 reported compensation |
| Voya Retirement Insurance and Annui | $20,535 reported compensation |
| Morninstar | $8,633 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015094850NAL0004499505001, received 2025-10-15, EIN 83-2102599, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.