Thrasher, Inc. 401(k) Review & Grade
Thrasher, Inc. 401k Profit Sharing Plan
Papillion, NEConstruction1,000 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,460Employer $ per active participant
$3,154Employee $ saved per active participant
0.45%Direct admin cost, % of plan assets
$35.6MNet plan assets, end of year
$60,193Average balance per account
Score breakdown
- Employer generosity21.9 / 5044th percentile for employer $ per participant
- Low cost6.7 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving5.9 / 1540th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 27th |
| Employee saving | 40th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $62,133 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Thrasher put in about $1,460 per active participant, below the typical peer ($1,672). 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.
- Direct plan expenses (0.45% 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.
- 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 | $1,460,786 |
| Participant (employee) contributions | $3,155,735 |
| Other contributions (incl. rollovers in) | $1,596,672 |
| Administrative expenses paid from the plan | $139,308 |
| Contract administrator fees | $139,308 |
| Benefits paid out | $4,168,986 |
| Net assets, start / end of year | $26.7M / $35.6M |
| Active participants, start / end of year | 999 / 1,002 |
| Participants with account balances | 592 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lengemann & Associates |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $139,308 reported compensation |
| LPL Financial | $54,878 reported compensation |
| Benefit Plans Inc | $23,558 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002151920NAL0000419587001, received 2025-10-02, EIN 38-3805565, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.