Tom Wood, Inc. 401(k) Review & Grade
Tom Wood Group 401(k) Profit Sharing Plan
Carmel, INRetail Trade1,062 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$948Employer $ per active participant
$5,605Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$69.0MNet plan assets, end of year
$50,527Average balance per account
Score breakdown
- Employer generosity29.6 / 5059th percentile for employer $ per participant
- Low cost11.0 / 2544th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1589th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 59th |
| Lower admin cost | 44th |
| Employee saving | 89th |
| Peers that auto-enroll | 48% |
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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
- Tom Wood put in about $948 per active participant, more than the typical peer ($743). 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.
- 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.
- 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 | $1,006,661 |
| Participant (employee) contributions | $5,952,765 |
| Other contributions (incl. rollovers in) | $298,937 |
| Administrative expenses paid from the plan | $174,408 |
| Investment advisory & management fees | $61,125 |
| Benefits paid out | $5,793,494 |
| Net assets, start / end of year | $59.4M / $69.0M |
| Active participants, start / end of year | 967 / 1,157 |
| Participants with account balances | 1,366 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Whitinger & Company |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $101,748 reported compensation |
| NFP Retirement | $61,125 reported compensation |
| Cherry Bekaert LLP | $11,550 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926162956NAL0022030562001, received 2025-09-26, EIN 35-1363838, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.