Saloncentric, Inc. 401(k) Review & Grade
Saloncentric Inc. 401(k) Plan
Berkeley Heights, NJWholesale Trade3,705 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,178Employer $ per active participant
$2,197Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$167.4MNet plan assets, end of year
$90,118Average balance per account
Score breakdown
- Employer generosity8.3 / 5017th percentile for employer $ per participant
- Low cost19.0 / 2576th percentile for low admin cost vs. same-size plans
- Employee saving2.2 / 1515th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 17th |
| Lower admin cost | 76th |
| Employee saving | 15th |
| Peers that auto-enroll | 62% |
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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
- Saloncentric put in about $1,178 per active participant, below the typical peer ($2,459). 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 | $4,365,907 |
| Participant (employee) contributions | $8,141,162 |
| Other contributions (incl. rollovers in) | $430,607 |
| Administrative expenses paid from the plan | $91,709 |
| Benefits paid out | $31,528,034 |
| Net assets, start / end of year | $165.5M / $167.4M |
| Active participants, start / end of year | 3,774 / 3,636 |
| Participants with account balances | 1,858 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $87,861 reported compensation |
| Charles Schwab & Co., Inc. | $350 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014161512NAL0001669619001, received 2025-10-14, EIN 91-2062018, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.