The Baldwin Group Colleague, Inc. 401(k) Review & Grade
The Baldwin Group Colleague, Inc. 401(k) Plan
Tampa, FLFinance & Insurance3,987 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,121Employer $ per active participant
$8,976Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$295.1MNet plan assets, end of year
$64,779Average balance per account
Score breakdown
- Employer generosity23.2 / 5046th percentile for employer $ per participant
- Low cost11.8 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving8.0 / 1554th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 47th |
| Employee saving | 54th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,131 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Baldwin Group Colleague put in about $4,121 per active participant, below the typical peer ($4,489). 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.
- 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 | $16,429,286 |
| Participant (employee) contributions | $35,785,502 |
| Other contributions (incl. rollovers in) | $9,540,725 |
| Administrative expenses paid from the plan | $350,443 |
| Contract administrator fees | $1,500 |
| Investment advisory & management fees | $58,317 |
| Benefits paid out | $27,989,651 |
| Net assets, start / end of year | $230.6M / $295.1M |
| Active participants, start / end of year | 3,853 / 4,121 |
| Participants with account balances | 4,556 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $264,832 reported compensation |
| Strategic Advisors, Inc. | $58,317 reported compensation |
| Crowe LLP | $27,300 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730155522NAL0002513363001, received 2025-07-30, EIN 82-3200685, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.