Locke Supply Co. 401(k) Review & Grade
Locke Supply Co. 401(k) Plan
Oklahoma City, OKWholesale Trade1,440 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,022Employer $ per active participant
$2,849Employee $ saved per active participant
0.34%Direct admin cost, % of plan assets
$37.3MNet plan assets, end of year
$25,208Average balance per account
Score breakdown
- Employer generosity12.0 / 5024th percentile for employer $ per participant
- Low cost9.1 / 2536th percentile for low admin cost vs. same-size plans
- Employee saving3.1 / 1520th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score34 / 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 | 36th |
| Employee saving | 20th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Locke Supply put in about $1,022 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 | $1,472,684 |
| Participant (employee) contributions | $4,103,909 |
| Other contributions (incl. rollovers in) | $239,736 |
| Administrative expenses paid from the plan | $116,688 |
| Benefits paid out | $4,092,957 |
| Net assets, start / end of year | $31.7M / $37.3M |
| Active participants, start / end of year | 1,506 / 1,375 |
| Participants with account balances | 1,478 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Hspg & Associates |
Largest service providers (Schedule C)
| Adp, Inc. | $116,688 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010053627NAL0004008099001, received 2025-10-10, EIN 73-0689366, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.