Power Design, Inc. 401(k) Review & Grade
Power Design, Inc. Retirement Plan
ST Petersburg, FLConstruction2,098 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,058Employer $ per active participant
$4,553Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$79.4MNet plan assets, end of year
$45,097Average balance per account
Score breakdown
- Employer generosity16.8 / 5034th percentile for employer $ per participant
- Low cost10.6 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1557th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 42th |
| Employee saving | 57th |
| Peers that auto-enroll | 44% |
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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 ($1,059,739 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $77,400 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Power Design put in about $1,058 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.
- 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 | $2,218,524 |
| Participant (employee) contributions | $9,549,605 |
| Other contributions (incl. rollovers in) | $2,245,501 |
| Administrative expenses paid from the plan | $205,966 |
| Contract administrator fees | $198,873 |
| Investment advisory & management fees | $7,083 |
| Other admin expenses | $10 |
| Benefits paid out | $9,489,863 |
| Net assets, start / end of year | $64.6M / $79.4M |
| Active participants, start / end of year | 2,706 / 1,489 |
| Participants with account balances | 1,761 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert |
Largest service providers (Schedule C)
| Newport Group, Inc | $198,873 reported compensation |
| Capfinancial Partners LLC DBA Captr | $7,083 reported compensation |
| Empower Financial Services, Inc. | $10 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015163402NAL0010660226001, received 2025-10-15, EIN 65-0147539, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.