Bright Future Electric, LLC 401(k) Review & Grade
Bright Future Electric 401(k) Plan
Birmingham, ALConstruction594 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$709Employer $ per active participant
$3,217Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$13.8MNet plan assets, end of year
$20,304Average balance per account
Score breakdown
- Employer generosity11.6 / 5023th percentile for employer $ per participant
- Low cost22.7 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1541th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 91th |
| Employee saving | 41th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($22,845 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $5,871 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Bright Future Electric put in about $709 per active participant, below the typical peer ($1,672). 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 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 | $420,541 |
| Participant (employee) contributions | $1,909,554 |
| Other contributions (incl. rollovers in) | $5,187 |
| Administrative expenses paid from the plan | $4,811 |
| Benefits paid out | $1,970,124 |
| Net assets, start / end of year | $11.4M / $13.8M |
| Active participants, start / end of year | 502 / 685 |
| Participants with account balances | 679 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Calvetti Ferguson, LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $4,811 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015153858NAL0005306449001, received 2025-10-15, EIN 57-1228220, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.