Skookum Educational Programs 401(k) Review & Grade
Skookum 401(k) Retirement Plan
Bremerton, WAHealth Care & Social Assistance1,372 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,802Employer $ per active participant
$1,758Employee $ saved per active participant
0.57%Direct admin cost, % of plan assets
$51.5MNet plan assets, end of year
$30,588Average balance per account
Score breakdown
- Employer generosity43.4 / 5087th percentile for employer $ per participant
- Low cost4.8 / 2519th percentile for low admin cost vs. same-size plans
- Employee saving5.7 / 1538th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 19th |
| Employee saving | 38th |
| Peers that auto-enroll | 36% |
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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
- Skookum Educational Programs put in about $3,802 per active participant, more than the typical peer ($976). 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 (0.57% 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.
- 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 | $5,214,854 |
| Participant (employee) contributions | $2,411,483 |
| Other contributions (incl. rollovers in) | $248,232 |
| Administrative expenses paid from the plan | $274,633 |
| Contract administrator fees | $207,226 |
| Investment advisory & management fees | $67,407 |
| Benefits paid out | $6,032,390 |
| Net assets, start / end of year | $44.6M / $51.5M |
| Active participants, start / end of year | 1,344 / 1,399 |
| Participants with account balances | 1,685 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Sweeney Conrad, P.S. |
Largest service providers (Schedule C)
| Stancorp Financial Group | $213,979 reported compensation |
| Alera Investment Advisors, LLC | $67,407 reported compensation |
| Reliance | $5,822 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915143408NAL0001215825001, received 2025-09-15, EIN 91-1434778, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.