BFS, Inc. 401(k) Review & Grade
Profit Sharing Plan of BFS, Inc.
Honolulu, HIRetail Trade552 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$655Employer $ per active participant
$2,241Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$32.2MNet plan assets, end of year
$73,165Average balance per account
Score breakdown
- Employer generosity22.9 / 5046th percentile for employer $ per participant
- Low cost16.1 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving5.6 / 1538th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 64th |
| Employee saving | 38th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $24,151 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- BFS put in about $655 per active participant, below the typical peer ($743). 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.
- 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.
- 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 | $361,350 |
| Participant (employee) contributions | $1,235,750 |
| Other contributions (incl. rollovers in) | $104,304 |
| Administrative expenses paid from the plan | $44,929 |
| Investment advisory & management fees | $7,410 |
| Benefits paid out | $3,581,582 |
| Net assets, start / end of year | $30.2M / $32.2M |
| Active participants, start / end of year | 477 / 626 |
| Participants with account balances | 440 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | N&k Cpas, Inc. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $37,519 reported compensation |
| Global Retirement Partners LLC | $7,410 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250805160228NAL0001310195001, received 2025-08-05, EIN 99-0181311, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.