Kent Companies, Inc. 401(k) Review & Grade
Kent Companies, Inc. Profit Sharing and 401(k) Savings Plan
Grand Rapids, MIConstruction1,718 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$660Employer $ per active participant
$1,743Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$36.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.9 / 5022th percentile for employer $ per participant
- Low cost8.6 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving2.6 / 1517th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 22th |
| Lower admin cost | 34th |
| Employee saving | 17th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $221,043 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Kent Companies put in about $660 per active participant, below the typical peer ($1,672). 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 (0.36% 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 | $1,133,884 |
| Participant (employee) contributions | $2,992,926 |
| Other contributions (incl. rollovers in) | $651,778 |
| Administrative expenses paid from the plan | $125,635 |
| Other admin expenses | $125,635 |
| Benefits paid out | $4,525,375 |
| Net assets, start / end of year | $33.4M / $36.6M |
| Active participants, start / end of year | 1,502 / 1,933 |
| Participants with account balances | 669 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Doeren Mayhew Assurance |
Largest service providers (Schedule C)
| Macatawa Bank | $125,635 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251223080301NAL0010830593001, received 2025-12-23, EIN 38-1913848, plan #002, plan year 2024-06-01 to 2025-05-31. Verify at efast.dol.gov.