Systems Unlimited, Inc. 401(k) Review & Grade
Systems Unlimited, Inc. 401(k) Plan
Iowa City, IAHealth Care & Social Assistance856 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$562Employer $ per active participant
$1,171Employee $ saved per active participant
0.39%Direct admin cost, % of plan assets
$13.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity18.9 / 5038th percentile for employer $ per participant
- Low cost7.7 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving3.9 / 1526th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 38th |
| Lower admin cost | 31th |
| Employee saving | 26th |
| 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
- Systems Unlimited put in about $562 per active participant, below the typical peer ($976). 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 (0.39% 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 | $480,377 |
| Participant (employee) contributions | $1,001,383 |
| Other contributions (incl. rollovers in) | $48,232 |
| Administrative expenses paid from the plan | $49,709 |
| Contract administrator fees | $49,709 |
| Benefits paid out | $869,217 |
| Net assets, start / end of year | $11.6M / $13.6M |
| Active participants, start / end of year | 843 / 868 |
| Participants with account balances | 332 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forge Financial & Management Cons |
Largest service providers (Schedule C)
| Stancorp Financial Group | $26,175 reported compensation |
| LPL Financial Corporation Rpcp | $23,533 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250812083906NAL0009623232001, received 2025-08-12, EIN 42-0985205, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.