Garrison, Inc. 401(k) Review & Grade
Garrison, Inc. 401(k) Retirement Savings Plan
Vinemont, ALTransportation & Warehousing595 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,105Employer $ per active participant
$4,431Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$28.3MNet plan assets, end of year
$38,640Average balance per account
Score breakdown
- Employer generosity36.7 / 5073th percentile for employer $ per participant
- Low cost9.7 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving10.3 / 1569th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 73th |
| Lower admin cost | 39th |
| Employee saving | 69th |
| Peers that auto-enroll | 37% |
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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 ($268,903 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Garrison put in about $2,105 per active participant, more than the typical peer ($1,070). 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.
- 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 | $1,252,282 |
| Participant (employee) contributions | $2,636,279 |
| Other contributions (incl. rollovers in) | $62,622 |
| Administrative expenses paid from the plan | $86,141 |
| Investment advisory & management fees | $64,809 |
| Benefits paid out | $5,058,611 |
| Net assets, start / end of year | $26.0M / $28.3M |
| Active participants, start / end of year | 620 / 570 |
| Participants with account balances | 733 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Katz Sapper & Miller LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $118,692 reported compensation |
| Morgan Stanley Smith Barney | $64,809 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929050703NAL0010922465001, received 2025-09-29, EIN 84-3498367, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.