Dave Jones, LLC. 401(k) Review & Grade
Dave Jones, LLC 401(k) Plan
Madison, WIConstruction597 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,384Employer $ per active participant
$6,023Employee $ saved per active participant
0.48%Direct admin cost, % of plan assets
$37.5MNet plan assets, end of year
$52,854Average balance per account
Score breakdown
- Employer generosity32.5 / 5065th percentile for employer $ per participant
- Low cost6.2 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 25th |
| Employee saving | 75th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $23,375 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Dave Jones put in about $2,384 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.
- Direct plan expenses (0.48% 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.
- 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 | $1,423,145 |
| Participant (employee) contributions | $3,595,440 |
| Other contributions (incl. rollovers in) | $485,289 |
| Administrative expenses paid from the plan | $162,072 |
| Investment advisory & management fees | $70,003 |
| Other admin expenses | $119 |
| Benefits paid out | $2,689,643 |
| Net assets, start / end of year | $30.4M / $37.5M |
| Active participants, start / end of year | 590 / 604 |
| Participants with account balances | 709 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $91,950 reported compensation |
| First Business Bank | $60,171 reported compensation |
| Empower Advisory Group, LLC | $9,832 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007133134NAL0004636929001, received 2025-10-07, EIN 39-1331145, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.