Source 4 Solutions LLC 401(k) Review & Grade
Source 4 Solutions LLC 401(k) Profit Sharing Plan & Trust
Knoxville, TNEducational Services119,111 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4Employer $ per active participant
$20Employee $ saved per active participant
0.47%Direct admin cost, % of plan assets
$10.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity1.4 / 503th percentile for employer $ per participant
- Low cost1.0 / 254th percentile for low admin cost vs. same-size plans
- Employee saving0.1 / 151th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score3 / 100 · Grade F
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 3th |
| Lower admin cost | 4th |
| Employee saving | 1th |
| Peers that auto-enroll | 50% |
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Red flags from the filing
Corrective distributions: the plan refunded $162,241 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Source 4 Solutions put in about $4 per active participant, below the typical peer ($2,229). 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.
- Direct plan expenses (0.47% of assets) are well above similar-size plans (0.09%). 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 | $429,284 |
| Participant (employee) contributions | $2,350,869 |
| Other contributions (incl. rollovers in) | $1,304,325 |
| Administrative expenses paid from the plan | $38,492 |
| Contract administrator fees | $33,579 |
| Investment advisory & management fees | $4,053 |
| Benefits paid out | $761,886 |
| Net assets, start / end of year | $6.2M / $10.2M |
| Active participants, start / end of year | 126,834 / 111,388 |
| Participants with account balances | 1,608 |
| Auto-enrollment (feature code 2S) | Not reported |
Largest service providers (Schedule C)
| Paychex, Inc. | $27,517 reported compensation |
| Erisa Fiduciary Services, Inc. | $6,050 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006134056NAL0006169040001, received 2025-10-06, EIN 27-2096985, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.