Industrial Welding Supply Co. of Harvey, Inc. 401(k) Review & Grade
Raymond Martin Profit Sharing 401(k) Plan
Baton Rouge, LAWholesale Trade854 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,015Employer $ per active participant
$5,422Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$60.6MNet plan assets, end of year
$63,105Average balance per account
Score breakdown
- Employer generosity12.0 / 5024th percentile for employer $ per participant
- Low cost21.3 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving9.2 / 1561th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 85th |
| Employee saving | 61th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Industrial Welding Supply Co. of Harvey put in about $1,015 per active participant, below the typical peer ($1,792). 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 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 | $866,931 |
| Participant (employee) contributions | $4,630,230 |
| Other contributions (incl. rollovers in) | $213,116 |
| Administrative expenses paid from the plan | $32,431 |
| Investment advisory & management fees | $8,491 |
| Benefits paid out | $6,622,390 |
| Net assets, start / end of year | $53.5M / $60.6M |
| Active participants, start / end of year | 843 / 865 |
| Participants with account balances | 961 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Piltz Williams Larosa & Company |
Largest service providers (Schedule C)
| Piltz Williams, Larosa & Company | $12,300 reported compensation |
| Fidelity Investments Institutional | $11,640 reported compensation |
| Strategic Advisors, Inc. | $8,491 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250917101700NAL0000356273001, received 2025-09-17, EIN 72-0913677, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.