Broad River Retail, LLC 401(k) Review & Grade
Broad River Retail Retirement Plan · d/b/a Ashley Furniture Homestore
Fort Mill, SCRetail Trade732 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$660Employer $ per active participant
$1,592Employee $ saved per active participant
1.25%Direct admin cost, % of plan assets
$6.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity23.1 / 5046th percentile for employer $ per participant
- Low cost1.0 / 254th percentile for low admin cost vs. same-size plans
- Employee saving3.8 / 1526th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 4th |
| Employee saving | 26th |
| Peers that auto-enroll | 48% |
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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 ($198,632 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Broad River Retail put in about $660 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.
- Direct plan expenses (1.25% 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 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 | $483,550 |
| Participant (employee) contributions | $1,166,379 |
| Other contributions (incl. rollovers in) | $279,573 |
| Administrative expenses paid from the plan | $72,766 |
| Investment advisory & management fees | $3,805 |
| Benefits paid out | $1,017,528 |
| Net assets, start / end of year | $5.0M / $6.6M |
| Active participants, start / end of year | 641 / 824 |
| Participants with account balances | 273 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ac CPA, PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $68,961 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015165424NAL0006979264001, received 2025-10-15, EIN 04-3712520, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.