Gray Media Inc. 401(k) Review & Grade
Gray Television, Inc. Capital Accumulation Plan
Atlanta, GAInformation8,666 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,397Employer $ per active participant
$5,282Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$657.1MNet plan assets, end of year
$60,542Average balance per account
Score breakdown
- Employer generosity30.5 / 5061th percentile for employer $ per participant
- Low cost8.4 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving3.1 / 1520th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Information plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 34th |
| Employee saving | 20th |
| Peers that auto-enroll | 63% |
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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
- Gray Media put in about $4,397 per active participant, more than the typical peer ($3,691). 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 (0.21% of assets) are well above similar-size plans (0.12%). 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 | $38,103,264 |
| Participant (employee) contributions | $45,772,510 |
| Other contributions (incl. rollovers in) | $4,516,601 |
| Administrative expenses paid from the plan | $1,279,028 |
| Investment advisory & management fees | $447,831 |
| Benefits paid out | $62,616,077 |
| Net assets, start / end of year | $576.0M / $657.1M |
| Active participants, start / end of year | 8,779 / 8,554 |
| Participants with account balances | 10,854 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Warren Averett |
| Employer stock held by plan | $15,771,456 |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $831,197 reported compensation |
| Empower Advisory Group, LLC | $447,831 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250727135527NAL0000341875001, received 2025-07-27, EIN 58-0285030, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.