Succession Capital, Inc. 401(k) Review & Grade
Succession Capital, Inc. 401(k) Plan
La Jolla, CAProfessional, Scientific & Technical Services642 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,909Employer $ per active participant
$3,508Employee $ saved per active participant
0.77%Direct admin cost, % of plan assets
$25.4MNet plan assets, end of year
$62,174Average balance per account
Score breakdown
- Employer generosity16.3 / 5033th percentile for employer $ per participant
- Low cost2.7 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 33th |
| Lower admin cost | 11th |
| Employee saving | 18th |
| Peers that auto-enroll | 48% |
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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 ($33,451 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $2,399 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Succession Capital put in about $1,909 per active participant, below the typical peer ($3,082). 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 (0.77% 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 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 | $1,224,556 |
| Participant (employee) contributions | $2,250,062 |
| Other contributions (incl. rollovers in) | $175,099 |
| Administrative expenses paid from the plan | $162,432 |
| Contract administrator fees | $162,432 |
| Benefits paid out | $3,352,568 |
| Net assets, start / end of year | $16.6M / $25.4M |
| Active participants, start / end of year | 668 / 615 |
| Participants with account balances | 408 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $139,752 reported compensation |
| Prudential Insurance Agency LLC | $53,466 reported compensation |
| Pruco Securities, LLC | $30,475 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015113603NAL0005954624001, received 2025-10-15, EIN 99-0378665, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.