Sampson-Bladen Oil Company, Inc. 401(k) Review & Grade
Sampson-Bladen Oil Company, Inc. Profit Sharing Plan and Trust
Clinton, NCRetail Trade716 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,060Employer $ per active participant
$2,001Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$18.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity31.8 / 5064th percentile for employer $ per participant
- Low cost10.3 / 2541th percentile for low admin cost vs. same-size plans
- Employee saving5.1 / 1534th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 41th |
| Employee saving | 34th |
| Peers that auto-enroll | 48% |
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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 ($14,835 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $39,390 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sampson-Bladen Oil Company put in about $1,060 per active participant, more than the typical peer ($743). 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.
- 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.
- 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 | $759,000 |
| Participant (employee) contributions | $1,432,534 |
| Other contributions (incl. rollovers in) | $252,507 |
| Administrative expenses paid from the plan | $51,225 |
| Contract administrator fees | $16,000 |
| Investment advisory & management fees | $35,000 |
| Benefits paid out | $1,747,691 |
| Net assets, start / end of year | $16.3M / $18.6M |
| Active participants, start / end of year | 738 / 694 |
| Participants with account balances | 207 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Smith & Howard, PC |
Largest service providers (Schedule C)
| First Citizens Bank | $35,000 reported compensation |
| Cpi Qualified Plan Consultants, Inc | $16,225 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251017132835NAL0003990931001, received 2025-10-17, EIN 56-0388031, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.