Homeworks Energy Inc 401(k) Review & Grade
Homeworks Energy, Inc. 401(k) Plan
Medford, MAConstruction582 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$415Employer $ per active participant
$1,782Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$6.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.3 / 5013th percentile for employer $ per participant
- Low cost20.5 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 82th |
| Employee saving | 18th |
| Peers that auto-enroll | 44% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($27,863 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $2,477 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Homeworks Energy put in about $415 per active participant, below the typical peer ($1,672). Any match is still an instant return, so contribute enough to get all of it.
- 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 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 | $241,526 |
| Participant (employee) contributions | $1,036,500 |
| Other contributions (incl. rollovers in) | $307,998 |
| Administrative expenses paid from the plan | $3,800 |
| Benefits paid out | $698,180 |
| Net assets, start / end of year | $4.7M / $6.4M |
| Active participants, start / end of year | 562 / 601 |
| Participants with account balances | 164 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Johnson O'connor Feror & Carucci LL |
Largest service providers (Schedule C)
| The Vanguard Group | $3,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015125000NAL0002319779001, received 2025-10-15, EIN 46-1283369, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.