Commercial Foodservice Repair, Inc. 401(k) Review & Grade
Tech24 Retirement Plan
Greenville, SCOther Services1,274 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,142Employer $ per active participant
$3,462Employee $ saved per active participant
0.62%Direct admin cost, % of plan assets
$40.9MNet plan assets, end of year
$30,857Average balance per account
Score breakdown
- Employer generosity34.8 / 5070th percentile for employer $ per participant
- Low cost4.1 / 2516th percentile for low admin cost vs. same-size plans
- Employee saving9.4 / 1562th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 70th |
| Lower admin cost | 16th |
| Employee saving | 62th |
| Peers that auto-enroll | 40% |
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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
- Commercial Foodservice Repair put in about $2,142 per active participant, more than the typical peer ($1,257). 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 (0.62% 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 | $2,728,906 |
| Participant (employee) contributions | $4,409,997 |
| Other contributions (incl. rollovers in) | $1,935,273 |
| Administrative expenses paid from the plan | $229,614 |
| Investment advisory & management fees | $168,456 |
| Benefits paid out | $4,659,984 |
| Net assets, start / end of year | $32.8M / $40.9M |
| Active participants, start / end of year | 1,228 / 1,320 |
| Participants with account balances | 1,326 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lynne D. Jones, CPA, LLC |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $110,853 reported compensation |
| Empower Annuity Insurance Company O | $61,158 reported compensation |
| Fifth Third Bank | $57,603 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924133242NAL0017194994001, received 2025-09-24, EIN 57-0757882, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.