Baney Corporation 401(k) Review & Grade
Baney Corporation Profit Sharing Plan
Bend, ORAccommodation & Food Services596 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,790Employer $ per active participant
$1,984Employee $ saved per active participant
0.55%Direct admin cost, % of plan assets
$18.6MNet plan assets, end of year
$21,205Average balance per account
Score breakdown
- Employer generosity47.6 / 5095th percentile for employer $ per participant
- Low cost5.0 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving12.6 / 1584th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 20th |
| Employee saving | 84th |
| Peers that auto-enroll | 17% |
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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
- Baney put in about $1,790 per active participant, more than the typical peer ($266). 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 (0.55% 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 | $1,066,854 |
| Participant (employee) contributions | $1,182,615 |
| Other contributions (incl. rollovers in) | $60,255 |
| Administrative expenses paid from the plan | $96,359 |
| Investment advisory & management fees | $5,981 |
| Benefits paid out | $2,103,233 |
| Net assets, start / end of year | $16.2M / $18.6M |
| Active participants, start / end of year | 518 / 674 |
| Participants with account balances | 875 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Delap |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $90,378 reported compensation |
| Strategic Advisors, Inc. | $5,981 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924091642NAL0007342529001, received 2025-09-24, EIN 93-0997747, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.