Babcock Center, Inc. 401(k) Review & Grade
Babcock Center 401(k) Plan
West Columbia, SCHealth Care & Social Assistance564 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,152Employer $ per active participant
$1,519Employee $ saved per active participant
1.05%Direct admin cost, % of plan assets
$11.3MNet plan assets, end of year
$17,147Average balance per account
Score breakdown
- Employer generosity27.0 / 5054th percentile for employer $ per participant
- Low cost1.5 / 256th percentile for low admin cost vs. same-size plans
- Employee saving5.0 / 1533th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 6th |
| Employee saving | 33th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,909 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Babcock Center put in about $1,152 per active participant, more than the typical peer ($976). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (1.05% 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.
- 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 | $649,418 |
| Participant (employee) contributions | $855,795 |
| Other contributions (incl. rollovers in) | $77,183 |
| Administrative expenses paid from the plan | $113,727 |
| Contract administrator fees | $113,727 |
| Benefits paid out | $1,904,898 |
| Net assets, start / end of year | $10.5M / $11.3M |
| Active participants, start / end of year | 544 / 583 |
| Participants with account balances | 658 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mcgregor & Company LLP |
Largest service providers (Schedule C)
| Stancorp Financial | $75,438 reported compensation |
| Carolina Qualified Retirement Plan | $38,288 reported compensation |
| Mcgregor & Company | $9,150 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013110925NAL0000518995001, received 2025-10-13, EIN 57-0512733, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.