Boddie-Noell Enterprises, Inc. 401(k) Review & Grade
Boddie-Noell Enterprises, Inc. Savings and Employee Retirement Plan
Rocky Mount, NCAccommodation & Food Services4,316 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$128Employer $ per active participant
$488Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$63.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity18.4 / 5037th percentile for employer $ per participant
- Low cost6.9 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving5.4 / 1536th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 2,500–9,999 active participants (104 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 28th |
| Employee saving | 36th |
| Peers that auto-enroll | 15% |
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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
- Boddie-Noell Enterprises put in about $128 per active participant, below the typical peer ($244). 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 (0.25% 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.
- 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 | $553,365 |
| Participant (employee) contributions | $2,107,196 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $154,482 |
| Investment advisory & management fees | $24,597 |
| Benefits paid out | $6,550,381 |
| Net assets, start / end of year | $59.8M / $63.9M |
| Active participants, start / end of year | 4,402 / 4,230 |
| Participants with account balances | 1,209 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | PB Mares LLP |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $107,703 reported compensation |
| Captrust Financial Partners, LLC | $30,568 reported compensation |
| Pbmares | $21,857 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013165736NAL0000843411001, received 2025-10-13, EIN 56-0751071, plan #333, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.