Biltmore Workforce Management, LLC 401(k) Review & Grade
Biltmore Workforce Management 401(k) Profit Sharing Plan
Ashville, NCArts, Entertainment & Recreation1,436 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,592Employer $ per active participant
$3,501Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$104.2MNet plan assets, end of year
$62,936Average balance per account
Score breakdown
- Employer generosity35.3 / 5071th percentile for employer $ per participant
- Low cost15.5 / 2562th percentile for low admin cost vs. same-size plans
- Employee saving10.8 / 1572th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 71th |
| Lower admin cost | 62th |
| Employee saving | 72th |
| Peers that auto-enroll | 38% |
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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
- Biltmore Workforce Management put in about $1,592 per active participant, more than the typical peer ($995). 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.
- 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 | $2,286,421 |
| Participant (employee) contributions | $5,026,849 |
| Other contributions (incl. rollovers in) | $493,449 |
| Administrative expenses paid from the plan | $152,280 |
| Contract administrator fees | $152,280 |
| Benefits paid out | $6,878,707 |
| Net assets, start / end of year | $89.5M / $104.2M |
| Active participants, start / end of year | 1,453 / 1,419 |
| Participants with account balances | 1,656 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $152,280 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014143221NAL0004250016001, received 2025-10-14, EIN 47-3797737, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.