Concrete Supply Company, LLC 401(k) Review & Grade
Concrete Supply Company Savings Plan
Charlotte, NCManufacturing1,207 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,037Employer $ per active participant
$2,918Employee $ saved per active participant
0.42%Direct admin cost, % of plan assets
$65.1MNet plan assets, end of year
$41,653Average balance per account
Score breakdown
- Employer generosity31.9 / 5064th percentile for employer $ per participant
- Low cost7.3 / 2529th percentile for low admin cost vs. same-size plans
- Employee saving3.3 / 1522th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 29th |
| Employee saving | 22th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($519,252 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $1,981 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Concrete Supply Company put in about $3,037 per active participant, more than the typical peer ($2,320). 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 (0.42% 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $3,665,622 |
| Participant (employee) contributions | $3,521,846 |
| Other contributions (incl. rollovers in) | $246,242 |
| Administrative expenses paid from the plan | $257,683 |
| Contract administrator fees | $169,814 |
| Investment advisory & management fees | $87,869 |
| Benefits paid out | $7,952,360 |
| Net assets, start / end of year | $58.7M / $65.1M |
| Active participants, start / end of year | 1,208 / 1,206 |
| Participants with account balances | 1,563 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Greerwalker LLP |
| Employer stock held by plan | $4,565,323 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $169,814 reported compensation |
| Capfinancial Partners, L | $87,869 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015124445NAL0002428339001, received 2025-10-15, EIN 46-2026923, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.