El Dorado Furniture Corporation 401(k) Review & Grade
El Dorado Furniture 401(k) Plan
Miami Gardens, FLRetail Trade708 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$503Employer $ per active participant
$2,561Employee $ saved per active participant
0.66%Direct admin cost, % of plan assets
$26.9MNet plan assets, end of year
$40,316Average balance per account
Score breakdown
- Employer generosity18.5 / 5037th percentile for employer $ per participant
- Low cost3.7 / 2515th percentile for low admin cost vs. same-size plans
- Employee saving6.4 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 15th |
| Employee saving | 43th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $21,765 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- El Dorado Furniture put in about $503 per active participant, below the typical peer ($743). 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 (0.66% 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 | $356,277 |
| Participant (employee) contributions | $1,814,572 |
| Other contributions (incl. rollovers in) | $97,895 |
| Administrative expenses paid from the plan | $167,432 |
| Contract administrator fees | $159,941 |
| Benefits paid out | $2,753,153 |
| Net assets, start / end of year | $24.0M / $26.9M |
| Active participants, start / end of year | 736 / 681 |
| Participants with account balances | 668 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Verdeja & Alvarez LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $159,940 reported compensation |
| Synovus Securities, Inc. | $47,934 reported compensation |
| Verdeja & Alvarez LLP | $7,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250717151005NAL0000260835001, received 2025-07-17, EIN 59-1350886, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.