Contract Lumber, Inc. 401(k) Review & Grade
Contract Lumber, Inc. Retirement Plan
Pataskala, OHConstruction630 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,288Employer $ per active participant
$5,094Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$49.9MNet plan assets, end of year
$76,397Average balance per account
Score breakdown
- Employer generosity47.1 / 5094th percentile for employer $ per participant
- Low cost11.5 / 2546th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1565th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score78 / 100 · Grade A
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 46th |
| Employee saving | 65th |
| 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
- Contract Lumber put in about $7,288 per active participant, more than the typical peer ($1,672). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $4,595,282 |
| Participant (employee) contributions | $3,211,812 |
| Other contributions (incl. rollovers in) | $936,205 |
| Administrative expenses paid from the plan | $115,783 |
| Investment advisory & management fees | $74,120 |
| Benefits paid out | $3,545,978 |
| Net assets, start / end of year | $39.9M / $49.9M |
| Active participants, start / end of year | 508 / 753 |
| Participants with account balances | 653 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | GBQ Partners LLC |
Largest service providers (Schedule C)
| Everhart Financial Group Inc | $58,586 reported compensation |
| Fidelity Workplace Services LLC | $41,663 reported compensation |
| Strategic Advisors, Inc. | $15,535 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250916081734NAL0001701473001, received 2025-09-16, EIN 31-1269968, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.