Peterman Heating, Cooling & Plumbing, Inc. 401(k) Review & Grade
Peterman Heating, Cooling & Plumbing, Inc 401(k) Plan
Greenwood, INOther Services504 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,287Employer $ per active participant
$2,142Employee $ saved per active participant
0.91%Direct admin cost, % of plan assets
$7.3MNet plan assets, end of year
$22,929Average balance per account
Score breakdown
- Employer generosity25.6 / 5051th percentile for employer $ per participant
- Low cost1.9 / 258th percentile for low admin cost vs. same-size plans
- Employee saving6.3 / 1542th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 8th |
| Employee saving | 42th |
| Peers that auto-enroll | 40% |
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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 ($452 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
- Peterman Heating, Cooling & Plumbing put in about $1,287 per active participant, more than the typical peer ($1,257). 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.
- Direct plan expenses (0.91% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $647,902 |
| Participant (employee) contributions | $1,078,254 |
| Other contributions (incl. rollovers in) | $87,899 |
| Administrative expenses paid from the plan | $59,293 |
| Contract administrator fees | $6,875 |
| Investment advisory & management fees | $31,123 |
| Benefits paid out | $1,013,096 |
| Net assets, start / end of year | $5.7M / $7.3M |
| Active participants, start / end of year | 576 / 431 |
| Participants with account balances | 320 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| JCM Strategic Wealth Partners | $29,798 reported compensation |
| John Hancock | $6,875 reported compensation |
| Wilshire Associates Inc. | $1,325 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251031131626NAL0007705970001, received 2025-10-31, EIN 35-1744027, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.