Crete Mechanical Group, Inc. 401(k) Review & Grade
Crete Mechanical Group, Inc. 401(k) Plan
Charlotte, NCConstruction1,476 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,390Employer $ per active participant
$5,128Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$116.3MNet plan assets, end of year
$113,286Average balance per account
Score breakdown
- Employer generosity32.6 / 5065th percentile for employer $ per participant
- Low cost11.3 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving9.9 / 1566th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 45th |
| Employee saving | 66th |
| Peers that auto-enroll | 44% |
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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 ($77,178 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $10,103 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Crete Mechanical Group put in about $2,390 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 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 | $3,527,867 |
| Participant (employee) contributions | $7,569,482 |
| Other contributions (incl. rollovers in) | $1,752,408 |
| Administrative expenses paid from the plan | $277,925 |
| Investment advisory & management fees | $104,555 |
| Benefits paid out | $12,628,660 |
| Net assets, start / end of year | $92.5M / $116.3M |
| Active participants, start / end of year | 1,589 / 1,363 |
| Participants with account balances | 1,027 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance Co | $173,370 reported compensation |
| Onedigital Investment Advisors LLC | $75,000 reported compensation |
| Empower Advisory Group, LLC | $53,509 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015133529NAL0006257840001, received 2025-10-15, EIN 85-3064334, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.