Bullard Enterprises LLC 401(k) Review & Grade
Bullard Enterprises 401(k) Profit Sharing Plan & Trust
Raleigh, NCAccommodation & Food Services514 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$432Employer $ per active participant
$705Employee $ saved per active participant
0.85%Direct admin cost, % of plan assets
$5.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity33.6 / 5067th percentile for employer $ per participant
- Low cost2.3 / 259th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 67th |
| Lower admin cost | 9th |
| Employee saving | 44th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
What to do if you're in this plan
- Bullard Enterprises put in about $432 per active participant, more than the typical peer ($266). 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.
- Direct plan expenses (0.85% 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.
- 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 | $221,802 |
| Participant (employee) contributions | $361,867 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $40,872 |
| Contract administrator fees | $15,482 |
| Investment advisory & management fees | $24,530 |
| Benefits paid out | $97,131 |
| Net assets, start / end of year | $4.4M / $5.3M |
| Active participants, start / end of year | 580 / 447 |
| Participants with account balances | 196 |
| Auto-enrollment (feature code 2S) | Not reported |
Largest service providers (Schedule C)
| Tagstone Capital, Inc. | $24,530 reported compensation |
| Paychex, Inc. | $15,473 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250812153918NAL0007354787001, received 2025-08-12, EIN 56-1269091, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.