Groundworks Operations, LLC 401(k) Review & Grade
Groundworks Operations, LLC 401(k) Plan
Virginia Beach, VAConstruction3,010 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,677Employer $ per active participant
$3,056Employee $ saved per active participant
0.38%Direct admin cost, % of plan assets
$62.5MNet plan assets, end of year
$37,575Average balance per account
Score breakdown
- Employer generosity23.3 / 5047th percentile for employer $ per participant
- Low cost4.3 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving4.4 / 1529th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-20 pts2 issues reported on the filing
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 2,500–9,999 active participants (76 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 17th |
| Employee saving | 29th |
| Peers that auto-enroll | 57% |
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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 ($1,659 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Groundworks Operations put in about $1,677 per active participant, below the typical peer ($1,965). 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.
- Direct plan expenses (0.38% 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 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 | $5,050,031 |
| Participant (employee) contributions | $9,198,732 |
| Other contributions (incl. rollovers in) | $2,556,043 |
| Administrative expenses paid from the plan | $209,889 |
| Benefits paid out | $7,679,657 |
| Net assets, start / end of year | $46.7M / $62.5M |
| Active participants, start / end of year | 2,824 / 3,197 |
| Participants with account balances | 1,664 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wells, Coleman & Company, LLP |
Largest service providers (Schedule C)
| John Hancock Retirement Plan Servic | $102,520 reported compensation |
| Kestra Investment Services LLC | $50,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015085658NAL0002132099001, received 2025-10-15, EIN 81-2191541, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.