Bergelectric Corporation 401(k) Review & Grade
Bergelectric Corp Employees Pension & 401k Plan
Carlsbad, CAConstruction2,512 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,490Employer $ per active participant
$6,057Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$168.7MNet plan assets, end of year
$50,396Average balance per account
Score breakdown
- Employer generosity20.7 / 5041th percentile for employer $ per participant
- Low cost6.0 / 2524th percentile for low admin cost vs. same-size plans
- Employee saving9.6 / 1564th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score46 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 2,500–9,999 active participants (76 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 24th |
| Employee saving | 64th |
| Peers that auto-enroll | 57% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Bergelectric put in about $1,490 per active participant, below the typical peer ($1,965). 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 (0.29% of assets) are well above similar-size plans (0.12%). 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 | $3,744,412 |
| Participant (employee) contributions | $15,218,590 |
| Other contributions (incl. rollovers in) | $1,688,821 |
| Administrative expenses paid from the plan | $462,177 |
| Investment advisory & management fees | $370,490 |
| Benefits paid out | $18,154,794 |
| Net assets, start / end of year | $149.2M / $168.7M |
| Active participants, start / end of year | 2,591 / 2,434 |
| Participants with account balances | 3,347 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lavine Lofgren Morris & Engelberg |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $461,952 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251016122120NAL0006299425004, received 2025-10-16, EIN 95-1459684, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.