Beasley Forest Products, Inc. 401(k) Review & Grade
Beasley Forest Products, Inc. 401(k) Profit Sharing Plan
Hazlehurst, GAManufacturing1,070 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$815Employer $ per active participant
$1,694Employee $ saved per active participant
0.78%Direct admin cost, % of plan assets
$23.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.4 / 5013th percentile for employer $ per participant
- Low cost2.6 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving1.3 / 158th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score10 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 10th |
| Employee saving | 8th |
| Peers that auto-enroll | 59% |
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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
- Beasley Forest Products put in about $815 per active participant, below the typical peer ($2,320). 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 (0.78% 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 | $872,307 |
| Participant (employee) contributions | $1,812,802 |
| Other contributions (incl. rollovers in) | $2,043,878 |
| Administrative expenses paid from the plan | $156,807 |
| Contract administrator fees | $156,807 |
| Benefits paid out | $1,383,676 |
| Net assets, start / end of year | $16.5M / $23.6M |
| Active participants, start / end of year | 974 / 1,166 |
| Participants with account balances | 370 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Moore Colson |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $145,621 reported compensation |
| LPL Financial | $23,647 reported compensation |
| Columbia Benefits Consultants, Inc | $15,940 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015102249NAL0002140115001, received 2025-10-15, EIN 58-2332843, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.