South College of Tennessee DBA South College 401(k) Review & Grade
South College of Tennessee 401(k) Retirement Plan
Knoxville, TNEducational Services1,113 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,862Employer $ per active participant
$5,140Employee $ saved per active participant
0.45%Direct admin cost, % of plan assets
$36.7MNet plan assets, end of year
$28,439Average balance per account
Score breakdown
- Employer generosity35.7 / 5071th percentile for employer $ per participant
- Low cost6.6 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving12.0 / 1580th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 71th |
| Lower admin cost | 26th |
| Employee saving | 80th |
| Peers that auto-enroll | 37% |
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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
- South College of Tennessee DBA South College put in about $1,862 per active participant, more than the typical peer ($1,225). 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 (0.45% 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.
- 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 | $2,072,525 |
| Participant (employee) contributions | $5,721,215 |
| Other contributions (incl. rollovers in) | $1,456,142 |
| Administrative expenses paid from the plan | $143,109 |
| Contract administrator fees | $32,152 |
| Investment advisory & management fees | $25,170 |
| Benefits paid out | $2,853,863 |
| Net assets, start / end of year | $26.5M / $36.7M |
| Active participants, start / end of year | 965 / 1,261 |
| Participants with account balances | 1,290 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Symphona LLP |
Largest service providers (Schedule C)
| Great-West Life & Insurance Company | $85,787 reported compensation |
| Tennessee Pension Administrators | $32,152 reported compensation |
| Empower Advisory Group, LLC | $15,170 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250905081807NAL0016946705001, received 2025-09-05, EIN 62-1378783, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.