Schmidbauer Lumber, Inc. 401(k) Review & Grade
Schmidbauer Lumber Sawmills 401(k) Plan
Eureka, CAManufacturing600 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,431Employer $ per active participant
$4,588Employee $ saved per active participant
0.42%Direct admin cost, % of plan assets
$71.5MNet plan assets, end of year
$94,848Average balance per account
Score breakdown
- Employer generosity26.3 / 5053th percentile for employer $ per participant
- Low cost7.2 / 2529th percentile for low admin cost vs. same-size plans
- Employee saving6.8 / 1545th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 53th |
| Lower admin cost | 29th |
| Employee saving | 45th |
| Peers that auto-enroll | 59% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Schmidbauer Lumber put in about $2,431 per active participant, more than the typical peer ($2,320). 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.
- Direct plan expenses (0.42% 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.
- 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 | $1,457,641 |
| Participant (employee) contributions | $2,750,508 |
| Other contributions (incl. rollovers in) | $402,982 |
| Administrative expenses paid from the plan | $290,076 |
| Contract administrator fees | $58,532 |
| Investment advisory & management fees | $170,376 |
| Other admin expenses | $61,168 |
| Benefits paid out | $6,833,198 |
| Net assets, start / end of year | $66.3M / $71.5M |
| Active participants, start / end of year | 600 / 599 |
| Participants with account balances | 754 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Platform Cpas, LLP |
Largest service providers (Schedule C)
| Morgan Stanley | $170,377 reported compensation |
| Bidwell Consulting Services Inc | $61,168 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250826160438NAL0004539507001, received 2025-08-26, EIN 94-2196486, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.