Saint Michaels College Services, LLC 401(k) Review & Grade
Retirement Plan for Employees of Saint Michael's College
Colchester, VTEducational Services886 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$683Employer $ per active participant
$2,546Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$97.2MNet plan assets, end of year
$160,926Average balance per account
Score breakdown
- Employer generosity11.9 / 5024th percentile for employer $ per participant
- Low cost15.4 / 2562th percentile for low admin cost vs. same-size plans
- Employee saving7.3 / 1549th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 62th |
| Employee saving | 49th |
| Peers that auto-enroll | 37% |
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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
- Saint Michaels College Services put in about $683 per active participant, below the typical peer ($1,225). 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.
- 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 | $605,664 |
| Participant (employee) contributions | $2,257,218 |
| Other contributions (incl. rollovers in) | $182,390 |
| Administrative expenses paid from the plan | $148,029 |
| Investment advisory & management fees | $28,722 |
| Benefits paid out | $6,976,839 |
| Net assets, start / end of year | $90.1M / $97.2M |
| Active participants, start / end of year | 892 / 881 |
| Participants with account balances | 604 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mcsoley Mccoy & Co. |
Largest service providers (Schedule C)
| Milliman, Inc. | $108,906 reported compensation |
| Charles Schwab Trust Bank | $28,721 reported compensation |
| Mcsoley Mccoy & Co | $10,400 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250821120535NAL0002063459001, received 2025-08-21, EIN 03-0179403, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.