Burr & Forman LLP 401(k) Review & Grade
Burr & Forman LLP Profit Sharing Plan
Birmingham, ALProfessional, Scientific & Technical Services606 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$16,743Employer $ per active participant
$12,069Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$399.4MNet plan assets, end of year
$500,500Average balance per account
Score breakdown
- Employer generosity49.3 / 5099th percentile for employer $ per participant
- Low cost22.1 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving11.1 / 1574th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score76 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 99th |
| Lower admin cost | 88th |
| Employee saving | 74th |
| 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 ($1,106 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
- Burr & Forman LLP put in about $16,743 per active participant, more than the typical peer ($3,082). 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.
- 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 | $10,146,377 |
| Participant (employee) contributions | $7,314,046 |
| Other contributions (incl. rollovers in) | $1,961,037 |
| Administrative expenses paid from the plan | $173,492 |
| Investment advisory & management fees | $105,607 |
| Benefits paid out | $21,181,174 |
| Net assets, start / end of year | $341.3M / $399.4M |
| Active participants, start / end of year | 608 / 604 |
| Participants with account balances | 798 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Kassouf & Co |
Largest service providers (Schedule C)
| Capfinancial Partners LLC DBA Captr | $105,607 reported compensation |
| Empower Annuity Insurance Company O | $67,885 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007123816NAL0008141104001, received 2025-10-07, EIN 63-0322727, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.