Security Properties Residential, LL 401(k) Review & Grade
Security Properties Residential, LLC 401(k) Plan
Seattle, WAReal Estate & Rental624 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,543Employer $ per active participant
$3,937Employee $ saved per active participant
0.75%Direct admin cost, % of plan assets
$15.2MNet plan assets, end of year
$22,252Average balance per account
Score breakdown
- Employer generosity28.8 / 5058th percentile for employer $ per participant
- Low cost2.8 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving8.0 / 1553th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 58th |
| Lower admin cost | 11th |
| Employee saving | 53th |
| 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 ($3,144 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
- Security Properties Residential, LL put in about $1,543 per active participant, more than the typical peer ($1,279). 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 (0.75% 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $961,865 |
| Participant (employee) contributions | $2,454,647 |
| Other contributions (incl. rollovers in) | $253,226 |
| Administrative expenses paid from the plan | $107,321 |
| Benefits paid out | $3,643,727 |
| Net assets, start / end of year | $13.4M / $15.2M |
| Active participants, start / end of year | 723 / 524 |
| Participants with account balances | 685 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| United 401(k) Plans, Inc. | $79,070 reported compensation |
| Global Retirement Partners, LLC | $28,251 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010092212NAL0007861953001, received 2025-10-10, EIN 27-3854827, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.