Finfrock Holdings, Inc. 401(k) Review & Grade
Finfrock Holdings, Inc. 401(k) Profit Sharing Plan
Apopka, FLConstruction630 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,608Employer $ per active participant
$5,090Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$58.9MNet plan assets, end of year
$128,874Average balance per account
Score breakdown
- Employer generosity43.8 / 5088th percentile for employer $ per participant
- Low cost23.0 / 2592th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1565th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 92th |
| Employee saving | 65th |
| 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 ($810 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $168,214 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Finfrock Holdings put in about $4,608 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 | $2,900,658 |
| Participant (employee) contributions | $3,204,343 |
| Other contributions (incl. rollovers in) | $10,542 |
| Administrative expenses paid from the plan | $18,710 |
| Contract administrator fees | $18,710 |
| Benefits paid out | $3,384,565 |
| Net assets, start / end of year | $48.5M / $58.9M |
| Active participants, start / end of year | 668 / 591 |
| Participants with account balances | 457 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Withumsmith+brown, PC |
Largest service providers (Schedule C)
| Withumsmith and Brown, PC | $19,240 reported compensation |
| Economic Group Pension Services,inc | $12,964 reported compensation |
| Voya Retirement Insurance and Annui | $7,919 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007143801NAL0002548995001, received 2025-10-07, EIN 59-2954885, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.