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What the filing does and doesn't tell us

Reported	What it means, and what it can't mean
—	Participant count includes eligible employees with a balance. It is a floor on headcount, never headcount — which is exactly why we pair it with current employment data rather than reading it alone.
—	Total plan assets. Divided across participants this gives an average balance, which is the single best proxy for whether the plan is doing its job.
—	Average balance per participant. Compare against tenure — a low average at a long-tenured firm usually points at deferral rates or match design, not markets.
—	The administrator named on the filing. Where this is an outside firm serving several unrelated employers, it is the TPA, not your decision maker — a distinction that matters when someone tries to sell you something.

Three questions this raises

What we'd do next

Nothing on this page is a recommendation, and nothing here required your cooperation to produce — it is built entirely from a public filing plus current employment data. That's the point: it's what any competent adviser should be able to show you before asking for a meeting.

If it's useful, the natural next step is a fee and participation benchmark against comparable Houston plans of similar size. That takes about a week and there's no charge for it.