Barnhill Contracting Company 401(k) Review & Grade
Barnhill Contracting Company Profit Sharing Plan
Rocky Mount, NCConstruction1,032 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,663Employer $ per active participant
$3,534Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$78.8MNet plan assets, end of year
$61,736Average balance per account
Score breakdown
- Employer generosity35.1 / 5070th percentile for employer $ per participant
- Low cost15.6 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving6.5 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 70th |
| Lower admin cost | 63th |
| Employee saving | 43th |
| 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
- Barnhill Contracting put in about $2,663 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 | $2,750,000 |
| Participant (employee) contributions | $3,648,349 |
| Other contributions (incl. rollovers in) | $518,055 |
| Administrative expenses paid from the plan | $113,872 |
| Contract administrator fees | $102,294 |
| Investment advisory & management fees | $11,578 |
| Benefits paid out | $7,421,351 |
| Net assets, start / end of year | $69.7M / $78.8M |
| Active participants, start / end of year | 1,026 / 1,039 |
| Participants with account balances | 1,277 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Ascensus LLC | $102,293 reported compensation |
| One Digital Investment Advisors | $8,883 reported compensation |
| Mesirow | $2,695 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001093408NAL0031307602001, received 2025-10-01, EIN 56-0512633, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.