Schellman Compliance, LLC 401(k) Review & Grade
Schellman Compliance, LLC. 401(k) Profit Sharing Plan
Tampa, FLProfessional, Scientific & Technical Services523 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$10,624Employer $ per active participant
$12,255Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$83.2MNet plan assets, end of year
$134,854Average balance per account
Score breakdown
- Employer generosity45.9 / 5092th percentile for employer $ per participant
- Low cost15.0 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score75 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 60th |
| Employee saving | 76th |
| Peers that auto-enroll | 48% |
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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
- Schellman Compliance put in about $10,624 per active participant, more than the typical peer ($3,082). 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.
- 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 | $5,556,380 |
| Participant (employee) contributions | $6,409,272 |
| Other contributions (incl. rollovers in) | $690,936 |
| Administrative expenses paid from the plan | $124,657 |
| Contract administrator fees | $81,421 |
| Investment advisory & management fees | $43,236 |
| Benefits paid out | $5,813,402 |
| Net assets, start / end of year | $65.6M / $83.2M |
| Active participants, start / end of year | 528 / 518 |
| Participants with account balances | 617 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Sensiba, LLP |
Largest service providers (Schedule C)
| John Hancock Life Insurance Company | $68,995 reported compensation |
| Cap Financial Partners, LLC. | $41,827 reported compensation |
| American Pension Services | $10,478 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015114412NAL0004750209001, received 2025-10-15, EIN 87-2465686, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.