Chet Morrison Contractors, L.L.C. 401(k) Review & Grade
Chet Morrison Contractors 401(k) Plan
Houma, LAConstruction508 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,458Employer $ per active participant
$4,831Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$27.7MNet plan assets, end of year
$60,824Average balance per account
Score breakdown
- Employer generosity21.8 / 5044th percentile for employer $ per participant
- Low cost16.4 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving9.1 / 1561th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score47 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 66th |
| Employee saving | 61th |
| Peers that auto-enroll | 44% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $55,236 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Chet Morrison Contractors put in about $1,458 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.
- 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 | $741,315 |
| Participant (employee) contributions | $2,456,338 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $35,317 |
| Contract administrator fees | $35,317 |
| Benefits paid out | $2,048,868 |
| Net assets, start / end of year | $23.7M / $27.7M |
| Active participants, start / end of year | 482 / 535 |
| Participants with account balances | 456 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | La Porte Apac |
Largest service providers (Schedule C)
| SCP Retirement Services, LLC | $12,225 reported compensation |
| Voya Retirement Insurance and Annui | $9,612 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250917094426NAL0000370835001, received 2025-09-17, EIN 72-1001398, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.