Gridiron Fiber Corp. 401(k) Review & Grade
Gridiron Fiber Savings and Security Plan
Waynesboro, VAInformation515 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,808Employer $ per active participant
$6,128Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$56.2MNet plan assets, end of year
$96,766Average balance per account
Score breakdown
- Employer generosity33.3 / 5067th percentile for employer $ per participant
- Low cost11.7 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving4.6 / 1531th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 67th |
| Lower admin cost | 47th |
| Employee saving | 31th |
| Peers that auto-enroll | 59% |
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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
- Gridiron Fiber put in about $3,808 per active participant, more than the typical peer ($2,829). 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.
- 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 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 | $1,961,056 |
| Participant (employee) contributions | $3,155,788 |
| Other contributions (incl. rollovers in) | $2,661,044 |
| Administrative expenses paid from the plan | $134,053 |
| Contract administrator fees | $78,879 |
| Investment advisory & management fees | $39,949 |
| Benefits paid out | $8,929,458 |
| Net assets, start / end of year | $50.1M / $56.2M |
| Active participants, start / end of year | 478 / 552 |
| Participants with account balances | 581 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| John Hancock Retirement Plan Svcs | $132,515 reported compensation |
| Capfinancial Partners, LLC | $25,000 reported compensation |
| Forvis, LLP | $15,225 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010115214NAL0008096977001, received 2025-10-10, EIN 86-3776842, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.