Eastern Metal Supply, Inc. 401(k) Review & Grade
Eastern Metal Supply, Inc. 401(k) Profit Sharing Plan
Lake Worth, FLWholesale Trade886 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,096Employer $ per active participant
$3,595Employee $ saved per active participant
0.43%Direct admin cost, % of plan assets
$49.5MNet plan assets, end of year
$50,435Average balance per account
Score breakdown
- Employer generosity14.0 / 5028th percentile for employer $ per participant
- Low cost7.1 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving4.8 / 1532th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 28th |
| Employee saving | 32th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $126,306 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Eastern Metal Supply put in about $1,096 per active participant, below the typical peer ($1,792). 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.
- Direct plan expenses (0.43% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $970,332 |
| Participant (employee) contributions | $3,183,572 |
| Other contributions (incl. rollovers in) | $135,547 |
| Administrative expenses paid from the plan | $203,033 |
| Investment advisory & management fees | $71,056 |
| Other admin expenses | $23,371 |
| Benefits paid out | $5,516,802 |
| Net assets, start / end of year | $45.6M / $49.5M |
| Active participants, start / end of year | 921 / 850 |
| Participants with account balances | 982 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | T.e. Lott & Company |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $108,606 reported compensation |
| Empower Advisory Group, LLC | $71,056 reported compensation |
| Triad Advisors Inc | $34,779 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250923142652NAL0008149235001, received 2025-09-23, EIN 59-2249307, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.