Riverhead Building Supply Corp. 401(k) Review & Grade
Riverhead Building Supply Corp. 401(k) Savings Plan
Calverton, NYWholesale Trade596 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,328Employer $ per active participant
$6,583Employee $ saved per active participant
0.38%Direct admin cost, % of plan assets
$80.3MNet plan assets, end of year
$113,214Average balance per account
Score breakdown
- Employer generosity42.7 / 5085th percentile for employer $ per participant
- Low cost8.2 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving11.2 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score69 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 33th |
| Employee saving | 75th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $32 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Riverhead Building Supply put in about $4,328 per active participant, more than the typical peer ($1,792). 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 (0.38% 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 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 | $2,577,444 |
| Participant (employee) contributions | $3,920,077 |
| Other contributions (incl. rollovers in) | $290,973 |
| Administrative expenses paid from the plan | $279,641 |
| Investment advisory & management fees | $162,741 |
| Benefits paid out | $3,339,905 |
| Net assets, start / end of year | $68.7M / $80.3M |
| Active participants, start / end of year | 592 / 599 |
| Participants with account balances | 709 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sheehan & Company CPA PC |
Largest service providers (Schedule C)
| Ubs Financial Services Inc | $102,824 reported compensation |
| Empower Life & Annuity Insurance Co | $99,400 reported compensation |
| Commonwealth Equity Services LLC DB | $59,917 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002073047NAL0000321968001, received 2025-10-02, EIN 11-2238519, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.