Riverview, LLP 401(k) Review & Grade
Riverview 401(k) Plan
Morris, MNAgriculture, Forestry, Fishing & Hunting1,224 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,859Employer $ per active participant
$3,936Employee $ saved per active participant
0.42%Direct admin cost, % of plan assets
$56.6MNet plan assets, end of year
$58,882Average balance per account
Score breakdown
- Employer generosity41.5 / 5083th percentile for employer $ per participant
- Low cost7.2 / 2529th percentile for low admin cost vs. same-size plans
- Employee saving10.8 / 1572th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 29th |
| Employee saving | 72th |
| Peers that auto-enroll | 36% |
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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 ($327,849 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
- Riverview, LLP put in about $2,859 per active participant, more than the typical peer ($774). 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 (0.42% 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 | $3,498,298 |
| Participant (employee) contributions | $4,815,717 |
| Other contributions (incl. rollovers in) | $25,955 |
| Administrative expenses paid from the plan | $213,929 |
| Investment advisory & management fees | $101,788 |
| Other admin expenses | $23,534 |
| Benefits paid out | $3,670,205 |
| Net assets, start / end of year | $45.2M / $56.6M |
| Active participants, start / end of year | 1,256 / 1,191 |
| Participants with account balances | 961 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Redpath and Company, LLC |
Largest service providers (Schedule C)
| Oneascent Financial Services LLC | $101,788 reported compensation |
| Adp, Inc. | $88,607 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250725052227NAL0015957282001, received 2025-07-25, EIN 26-3084208, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.