Blarney Castle Oil Co. 401(k) Review & Grade
Blarney Castle Oil Co. 401(k) Plan
Bear Lake, MIRetail Trade688 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$639Employer $ per active participant
$1,850Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$12.5MNet plan assets, end of year
$18,081Average balance per account
Score breakdown
- Employer generosity22.4 / 5045th percentile for employer $ per participant
- Low cost10.6 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving4.7 / 1531th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 42th |
| Employee saving | 31th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,481 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Blarney Castle Oil put in about $639 per active participant, below the typical peer ($743). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- 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 | $439,648 |
| Participant (employee) contributions | $1,272,535 |
| Other contributions (incl. rollovers in) | $5,640 |
| Administrative expenses paid from the plan | $33,948 |
| Contract administrator fees | $33,948 |
| Benefits paid out | $1,363,089 |
| Net assets, start / end of year | $11.2M / $12.5M |
| Active participants, start / end of year | 716 / 660 |
| Participants with account balances | 694 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Hungerford |
Largest service providers (Schedule C)
| Lincoln National Corporation | $33,948 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250831130040NAL0012659425001, received 2025-08-31, EIN 38-1484988, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.