Tidal Basin Holdco LLC 401(k) Review & Grade
Tidal Basin Holdco LLC 401(k) Retirement Savings Plan
Utica, NYFinance & Insurance592 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,414Employer $ per active participant
$4,719Employee $ saved per active participant
0.58%Direct admin cost, % of plan assets
$20.0MNet plan assets, end of year
$35,781Average balance per account
Score breakdown
- Employer generosity14.2 / 5028th percentile for employer $ per participant
- Low cost4.6 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 18th |
| Employee saving | 20th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $62 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Tidal Basin Holdco put in about $2,414 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.
- Direct plan expenses (0.58% 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 | $1,428,843 |
| Participant (employee) contributions | $2,793,366 |
| Other contributions (incl. rollovers in) | $477,662 |
| Administrative expenses paid from the plan | $107,432 |
| Contract administrator fees | $62,361 |
| Benefits paid out | $3,402,791 |
| Net assets, start / end of year | $16.8M / $20.0M |
| Active participants, start / end of year | 585 / 599 |
| Participants with account balances | 560 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $62,311 reported compensation |
| Parkwood Wealth Partners LLC | $23,895 reported compensation |
| Buckingham Asset Management | $21,176 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007093021NAL0004379009002, received 2025-10-07, EIN 93-2022863, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.