Blanchard Machinery Company, a South Carolina Corporation 401(k) Review & Grade
Blanchard Machinery Company 401(k) Profit Sharing Plan
West Columbia, SCWholesale Trade780 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,141Employer $ per active participant
$5,572Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$75.2MNet plan assets, end of year
$92,651Average balance per account
Score breakdown
- Employer generosity29.2 / 5058th percentile for employer $ per participant
- Low cost9.4 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1563th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 58th |
| Lower admin cost | 38th |
| Employee saving | 63th |
| Peers that auto-enroll | 53% |
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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
- Blanchard Machinery Company, a South Carolina put in about $2,141 per active participant, more than the typical peer ($1,792). 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 | $1,668,728 |
| Participant (employee) contributions | $4,343,109 |
| Other contributions (incl. rollovers in) | $156,337 |
| Administrative expenses paid from the plan | $233,157 |
| Other admin expenses | $233,157 |
| Benefits paid out | $8,550,667 |
| Net assets, start / end of year | $68.7M / $75.2M |
| Active participants, start / end of year | 762 / 797 |
| Participants with account balances | 812 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bauknight, Pietras & Stormer, P.A. |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $208,898 reported compensation |
| Bauknight, Pietras & Stormer, P.A. | $24,830 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014163227NAL0001686867001, received 2025-10-14, EIN 59-0681683, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.