Tri-City Electrical Contractors, Inc. 401(k) Review & Grade
Tri-City Electrical Contractors, Inc. Retirement and Savings Plan
Altamonte Springs, FLConstruction840 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$951Employer $ per active participant
$4,466Employee $ saved per active participant
0.50%Direct admin cost, % of plan assets
$30.0MNet plan assets, end of year
$32,808Average balance per account
Score breakdown
- Employer generosity15.1 / 5030th percentile for employer $ per participant
- Low cost5.8 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving8.5 / 1556th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 30th |
| Lower admin cost | 23th |
| Employee saving | 56th |
| Peers that auto-enroll | 44% |
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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
- Tri-City Electrical Contractors put in about $951 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 (0.50% 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 | $799,247 |
| Participant (employee) contributions | $3,753,867 |
| Other contributions (incl. rollovers in) | $286,558 |
| Administrative expenses paid from the plan | $139,057 |
| Contract administrator fees | $139,057 |
| Benefits paid out | $4,004,795 |
| Net assets, start / end of year | $26.0M / $30.0M |
| Active participants, start / end of year | 881 / 800 |
| Participants with account balances | 913 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rehmann Robson LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $139,057 reported compensation |
| Resources Investment Advisors | $35,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251016081022NAL0008234496001, received 2025-10-16, EIN 02-0657423, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.