Freeman Decorating Co. 401(k) Review & Grade
Freeman 401(k) Plan
Dallas, TXOther Services5,178 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,919Employer $ per active participant
$6,880Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$686.4MNet plan assets, end of year
$102,557Average balance per account
Score breakdown
- Employer generosity45.1 / 5090th percentile for employer $ per participant
- Low cost14.2 / 2557th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1583th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score69 / 100 · Grade B
This plan vs. peers
Peers: Other Services plans with 2,500–9,999 active participants (42 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 90th |
| Lower admin cost | 57th |
| Employee saving | 83th |
| Peers that auto-enroll | 45% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $8,426 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Freeman Decorating put in about $3,919 per active participant, more than the typical peer ($1,132). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $20,289,851 |
| Participant (employee) contributions | $35,622,893 |
| Other contributions (incl. rollovers in) | $5,100,734 |
| Administrative expenses paid from the plan | $662,398 |
| Contract administrator fees | $900 |
| Investment advisory & management fees | $275,654 |
| Other admin expenses | $72,500 |
| Benefits paid out | $63,797,461 |
| Net assets, start / end of year | $618.0M / $686.4M |
| Active participants, start / end of year | 4,558 / 5,797 |
| Participants with account balances | 6,693 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sutton Frost Cary LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $299,252 reported compensation |
| Strategic Advisors, Inc. | $275,654 reported compensation |
| Plexus Financial Services, LLC | $72,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015134100NAL0002505795001, received 2025-10-15, EIN 42-0661692, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.