Gore Nitrogen Pumping Service, LLC 401(k) Review & Grade
Gore Nitrogen Pumping Service, LLC 401(k)
Seiling, OKMining, Oil & Gas624 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,902Employer $ per active participant
$3,018Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$17.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity8.2 / 5016th percentile for employer $ per participant
- Low cost13.2 / 2553th percentile for low admin cost vs. same-size plans
- Employee saving1.3 / 159th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score10 / 100 · Grade F
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 53th |
| Employee saving | 9th |
| Peers that auto-enroll | 60% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($6,107 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $239 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Gore Nitrogen Pumping Service put in about $1,902 per active participant, below the typical peer ($4,357). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,185,719 |
| Participant (employee) contributions | $1,881,890 |
| Other contributions (incl. rollovers in) | $185,844 |
| Administrative expenses paid from the plan | $32,127 |
| Benefits paid out | $831,718 |
| Net assets, start / end of year | $12.9M / $17.7M |
| Active participants, start / end of year | 618 / 629 |
| Participants with account balances | 290 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Conklin, Gilpin Wertz, PLLC, Cpa's |
Largest service providers (Schedule C)
| Edward Jones | $23,682 reported compensation |
| Dyatech, LLC | $9,458 reported compensation |
| Capital Group Retirement Plan Servi | $2,113 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013153638NAL0000783251001, received 2025-10-13, EIN 48-1241886, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.