Choate Construction Company 401(k) Review & Grade
Choate Construction Company Profit Sharing Plan
Atlanta, GAConstruction568 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2Employer $ per active participant
$9,262Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$88.4MNet plan assets, end of year
$121,663Average balance per account
Score breakdown
- Employer generosity1.4 / 503th percentile for employer $ per participant
- Low cost11.2 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving13.8 / 1592th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 3th |
| Lower admin cost | 45th |
| Employee saving | 92th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Choate Construction put in about $2 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 | $1,388 |
| Participant (employee) contributions | $5,260,914 |
| Other contributions (incl. rollovers in) | $695,374 |
| Administrative expenses paid from the plan | $222,727 |
| Contract administrator fees | $1,500 |
| Investment advisory & management fees | $122,251 |
| Benefits paid out | $7,099,851 |
| Net assets, start / end of year | $77.2M / $88.4M |
| Active participants, start / end of year | 563 / 573 |
| Participants with account balances | 727 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | HLB Gross Collins, P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $100,476 reported compensation |
| NFP Retirement Inc | $99,044 reported compensation |
| Strategic Advisors, Inc. | $23,207 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009130514NAL0007031025001, received 2025-10-09, EIN 58-1851823, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.