Bhi Energy Services LLC 401(k) Review & Grade
Bhi Energy 401(k) and Profit Sharing Plan
Norwell, MAProfessional, Scientific & Technical Services2,442 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$198Employer $ per active participant
$2Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$129.4MNet plan assets, end of year
$80,004Average balance per account
Score breakdown
- Employer generosity4.4 / 509th percentile for employer $ per participant
- Low cost24.4 / 2598th percentile for low admin cost vs. same-size plans
- Employee saving0.1 / 150th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score9 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 9th |
| Lower admin cost | 98th |
| Employee saving | 0th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($33,771 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $370,939 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Bhi Energy Services put in about $198 per active participant, below the typical peer ($3,082). 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $484,320 |
| Participant (employee) contributions | $4,006 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $14,470 |
| Investment advisory & management fees | $62,500 |
| Benefits paid out | $25,622,920 |
| Net assets, start / end of year | $130.8M / $129.4M |
| Active participants, start / end of year | 4,114 / 770 |
| Participants with account balances | 1,618 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Britt & Company CPA LLC |
Largest service providers (Schedule C)
| Captrust Financial Advisors | $62,500 reported compensation |
| Britt & Company CPA LLC | $22,000 reported compensation |
| Cozen O'connor 7885 | $21,402 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013091046NAL0001012865001, received 2025-10-13, EIN 85-3926225, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.