Weigel Stores, Inc. 401(k) Review & Grade
Weigel Stores, Inc. Profit Sharing 401(k) Plan
Powell, TNAgriculture, Forestry, Fishing & Hunting1,825 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$275Employer $ per active participant
$248Employee $ saved per active participant
1.57%Direct admin cost, % of plan assets
$5.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity9.0 / 5018th percentile for employer $ per participant
- Low cost0.6 / 252th percentile for low admin cost vs. same-size plans
- Employee saving0.5 / 153th 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 score7 / 100 · Grade F
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 18th |
| Lower admin cost | 2th |
| Employee saving | 3th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $31,939 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Weigel Stores put in about $275 per active participant, below the typical peer ($774). 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 (1.57% 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 | $502,150 |
| Participant (employee) contributions | $451,714 |
| Other contributions (incl. rollovers in) | $8,263 |
| Administrative expenses paid from the plan | $83,570 |
| Contract administrator fees | $53,300 |
| Benefits paid out | $708,041 |
| Net assets, start / end of year | $5.0M / $5.7M |
| Active participants, start / end of year | 1,347 / 2,303 |
| Participants with account balances | 817 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pugh Cpas |
Largest service providers (Schedule C)
| The Trust Company of Tennessee | $67,670 reported compensation |
| Pugh Cpas | $15,900 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013111332NAL0001100769001, received 2025-10-13, EIN 62-1588714, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.