Rex Lumber, LLC 401(k) Review & Grade
Rex Lumber 401(k) and P/S Plan
Graceville, FLManufacturing622 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,627Employer $ per active participant
$3,031Employee $ saved per active participant
0.76%Direct admin cost, % of plan assets
$16.7MNet plan assets, end of year
$25,729Average balance per account
Score breakdown
- Employer generosity16.7 / 5033th percentile for employer $ per participant
- Low cost2.8 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving3.5 / 1523th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 33th |
| Lower admin cost | 11th |
| Employee saving | 23th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Auditor disclaimer: the auditor issued a disclaimer of opinion.
What to do if you're in this plan
- Rex Lumber put in about $1,627 per active participant, below the typical peer ($2,320). 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 (0.76% 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 | $1,011,063 |
| Participant (employee) contributions | $1,883,828 |
| Other contributions (incl. rollovers in) | $144,474 |
| Administrative expenses paid from the plan | $116,637 |
| Benefits paid out | $2,012,913 |
| Net assets, start / end of year | $14.1M / $16.7M |
| Active participants, start / end of year | 616 / 627 |
| Participants with account balances | 650 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lanigan & Associates, P.C. |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $72,939 reported compensation |
| Pentegra Retirement Services | $20,527 reported compensation |
| Commonwealth Equity Services LLC | $16,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008075118NAL0002833203001, received 2025-10-08, EIN 61-1870518, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.