Gaylor Electric, Inc. 401(k) Review & Grade
Gaylor Electric, Inc. 401(k) Profit Sharing Plan
Indianapolis, INConstruction2,140 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,549Employer $ per active participant
$4,889Employee $ saved per active participant
0.38%Direct admin cost, % of plan assets
$80.4MNet plan assets, end of year
$24,630Average balance per account
Score breakdown
- Employer generosity40.5 / 5081th percentile for employer $ per participant
- Low cost8.2 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving9.3 / 1562th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 33th |
| Employee saving | 62th |
| 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
- Gaylor Electric put in about $3,549 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 (0.38% 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 | $7,593,590 |
| Participant (employee) contributions | $10,460,938 |
| Other contributions (incl. rollovers in) | $541,489 |
| Administrative expenses paid from the plan | $267,898 |
| Investment advisory & management fees | $97,950 |
| Benefits paid out | $8,371,185 |
| Net assets, start / end of year | $62.2M / $80.4M |
| Active participants, start / end of year | 1,659 / 2,620 |
| Participants with account balances | 3,265 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Katz Sapper & Miller LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $169,948 reported compensation |
| Wellington Wealth Strategies LLC | $97,950 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250815082932NAL0010219745001, received 2025-08-15, EIN 20-3727689, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.