1 Source Business Solutions, LLC401(k)
1 SOURCE BUSINESS SOLUTIONS 401(K) PLAN · MIDVALE, UT · plan year 2024
Peer grade: D · admin costs + employer contributions vs same-size plans · how grading works
1 Source Business Solutions, LLC reported $660,046 in plan administrative expenses for 2024: 1.82% of average plan assets, higher than ~90% of peers. Employer contributions averaged $991 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 1.34% to 1.82%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other other services employers. By assets it is the 164th-largest of 848 plans among Utah employers on file, and the 527th of 3,341 in other services. In 2024, employees put in $2.35 for every $1.00 the employer contributed; active participation has grown from 1,645 to 2,509 since 2022.
1 Source Business Solutions, LLC's 2024 employer contribution ran below the $2,416 median for plans its size, in the bottom quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 273793520 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.