Best Chairs, Inc. 401(k) Review & Grade
Best Home Furnishings 401(k) Savings Plan
Ferdinand, INManufacturing772 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$974Employer $ per active participant
$3,188Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$76.9MNet plan assets, end of year
$86,848Average balance per account
Score breakdown
- Employer generosity8.1 / 5016th percentile for employer $ per participant
- Low cost15.1 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving3.8 / 1525th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 60th |
| Employee saving | 25th |
| Peers that auto-enroll | 59% |
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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
- Best Chairs put in about $974 per active participant, below the typical peer ($2,320). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $751,577 |
| Participant (employee) contributions | $2,460,942 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $122,454 |
| Other admin expenses | $122,454 |
| Benefits paid out | $6,191,262 |
| Net assets, start / end of year | $71.2M / $76.9M |
| Active participants, start / end of year | 772 / 772 |
| Participants with account balances | 886 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Katz, Sapper & Miller, LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $82,453 reported compensation |
| Old National Wealth Management | $40,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013095420NAL0000459827001, received 2025-10-13, EIN 35-1075512, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.