Building Materials Distributor, Inc. 401(k) Review & Grade
BMD 401(k) Plan
Galt, CAWholesale Trade897 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$11Employer $ per active participant
$5,653Employee $ saved per active participant
0.51%Direct admin cost, % of plan assets
$38.4MNet plan assets, end of year
$41,564Average balance per account
Score breakdown
- Employer generosity0.9 / 502th percentile for employer $ per participant
- Low cost5.5 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1564th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 2th |
| Lower admin cost | 22th |
| Employee saving | 64th |
| Peers that auto-enroll | 53% |
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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
- Building Materials Distributor put in about $11 per active participant, below the typical peer ($1,792). 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 (0.51% of assets) are well above similar-size plans (0.23%). 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 | $10,081 |
| Participant (employee) contributions | $5,071,035 |
| Other contributions (incl. rollovers in) | $2,824,953 |
| Administrative expenses paid from the plan | $186,819 |
| Contract administrator fees | $186,819 |
| Benefits paid out | $8,210,134 |
| Net assets, start / end of year | $34.2M / $38.4M |
| Active participants, start / end of year | 995 / 799 |
| Participants with account balances | 924 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rsmus LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $186,818 reported compensation |
| 401(k) Advisors Inc | $84,854 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015012021NAL0005218256001, received 2025-10-15, EIN 95-3926637, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.