T2 Financial LLC 401(k) Review & Grade
T2 Financial LLC 401(k) Profit Sharing Plan & Trust
Westerville, OHFinance & Insurance778 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$88Employer $ per active participant
$3,522Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$15.7MNet plan assets, end of year
$14,938Average balance per account
Score breakdown
- Employer generosity1.4 / 503th percentile for employer $ per participant
- Low cost9.9 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving1.3 / 159th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score13 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 3th |
| Lower admin cost | 40th |
| Employee saving | 9th |
| Peers that auto-enroll | 62% |
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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 ($3,257 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- T2 Financial put in about $88 per active participant, below the typical peer ($3,606). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $68,204 |
| Participant (employee) contributions | $2,741,800 |
| Other contributions (incl. rollovers in) | $1,575,426 |
| Administrative expenses paid from the plan | $41,759 |
| Contract administrator fees | $14,283 |
| Investment advisory & management fees | $26,616 |
| Benefits paid out | $2,010,937 |
| Net assets, start / end of year | $11.5M / $15.7M |
| Active participants, start / end of year | 727 / 830 |
| Participants with account balances | 1,049 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Richey, May & Co LLP |
Largest service providers (Schedule C)
| Everhart Advisors | $26,616 reported compensation |
| Erisa Fiduciary Services, Inc. | $12,900 reported compensation |
| Paychex, Inc. | $10,384 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929114411NAL0012134464001, received 2025-09-29, EIN 82-3060879, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.