Wadhams Enterprises, Inc. 401(k) Review & Grade
Wadhams Enterprises, Inc. Employee Retirement Savings Plan
Phelps, NYTransportation & Warehousing646 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,129Employer $ per active participant
$2,990Employee $ saved per active participant
0.44%Direct admin cost, % of plan assets
$36.5MNet plan assets, end of year
$61,313Average balance per account
Score breakdown
- Employer generosity26.3 / 5053th percentile for employer $ per participant
- Low cost6.9 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving7.4 / 1549th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 53th |
| Lower admin cost | 27th |
| Employee saving | 49th |
| Peers that auto-enroll | 37% |
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
Late deposits: the filing says some employee contributions were not sent to the plan on time ($3,631 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Wadhams Enterprises put in about $1,129 per active participant, more than the typical peer ($1,070). 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 (0.44% 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 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 | $729,088 |
| Participant (employee) contributions | $1,931,713 |
| Other contributions (incl. rollovers in) | $59,310 |
| Administrative expenses paid from the plan | $135,679 |
| Contract administrator fees | $53,006 |
| Investment advisory & management fees | $82,471 |
| Other admin expenses | $202 |
| Benefits paid out | $3,044,844 |
| Net assets, start / end of year | $25.7M / $36.5M |
| Active participants, start / end of year | 613 / 679 |
| Participants with account balances | 595 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Freed Maxick PC |
Largest service providers (Schedule C)
| James P Reagan Agency | $82,471 reported compensation |
| Benefit Plans Admin Services Inc. | $53,208 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013133418NAL0000659283001, received 2025-10-13, EIN 16-1397441, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.