Ames Construction, Inc. 401(k) Review & Grade
Ames Construction, Inc. Retirement Savings Plan
Burnsville, MNConstruction1,036 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$14,552Employer $ per active participant
$8,464Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$213.9MNet plan assets, end of year
$90,538Average balance per account
Score breakdown
- Employer generosity49.4 / 5099th percentile for employer $ per participant
- Low cost18.5 / 2574th percentile for low admin cost vs. same-size plans
- Employee saving13.2 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 99th |
| Lower admin cost | 74th |
| Employee saving | 88th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,886 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ames Construction put in about $14,552 per active participant, more than the typical peer ($1,672). 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.
- 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 | $15,083,141 |
| Participant (employee) contributions | $8,773,049 |
| Other contributions (incl. rollovers in) | $1,038,385 |
| Administrative expenses paid from the plan | $205,910 |
| Benefits paid out | $33,476,789 |
| Net assets, start / end of year | $200.1M / $213.9M |
| Active participants, start / end of year | 1,247 / 826 |
| Participants with account balances | 2,362 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $188,720 reported compensation |
| Empower Advisory Group, LLC | $17,088 reported compensation |
| Beneco Systems, LLC | $102 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250822061354NAL0004991617001, received 2025-08-22, EIN 41-0871375, plan #010, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.