Wayne Brothers, Inc. 401(k) Review & Grade
Wayne Brothers, Inc. 401(k) Plan
Davidson, NCConstruction564 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,198Employer $ per active participant
$4,497Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$27.4MNet plan assets, end of year
$39,479Average balance per account
Score breakdown
- Employer generosity30.9 / 5062th percentile for employer $ per participant
- Low cost15.8 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving8.5 / 1557th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 63th |
| Employee saving | 57th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $29,568 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Wayne Brothers put in about $2,198 per active participant, more than the typical peer ($1,672). 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 | $1,238,481 |
| Participant (employee) contributions | $2,533,943 |
| Other contributions (incl. rollovers in) | $89,138 |
| Administrative expenses paid from the plan | $36,810 |
| Investment advisory & management fees | $22,532 |
| Benefits paid out | $1,456,153 |
| Net assets, start / end of year | $21.6M / $27.4M |
| Active participants, start / end of year | 507 / 620 |
| Participants with account balances | 693 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Greerwalker LLP |
Largest service providers (Schedule C)
| Kestra Investment Services LLC | $22,532 reported compensation |
| Fidelity Investments Institutional | $14,278 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013234709NAL0002067665001, received 2025-10-14, EIN 56-1496059, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.