Foundation Building Materials, LLC 401(k) Review & Grade
Foundation Building Materials 401(k) Profit Sharing Plan and Trust
Santa Ana, CARetail Trade5,032 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,677Employer $ per active participant
$4,756Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$241.9MNet plan assets, end of year
$44,082Average balance per account
Score breakdown
- Employer generosity42.0 / 5084th percentile for employer $ per participant
- Low cost9.4 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving13.0 / 1587th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 84th |
| Lower admin cost | 37th |
| Employee saving | 87th |
| Peers that auto-enroll | 42% |
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Red flags from the filing
Corrective distributions: the plan refunded $25,392 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Foundation Building Materials put in about $1,677 per active participant, more than the typical peer ($650). 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.
- Direct plan expenses (0.18% of assets) are well above similar-size plans (0.12%). 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 | $8,437,922 |
| Participant (employee) contributions | $23,929,601 |
| Other contributions (incl. rollovers in) | $8,818,008 |
| Administrative expenses paid from the plan | $408,152 |
| Investment advisory & management fees | $26,050 |
| Benefits paid out | $25,010,272 |
| Net assets, start / end of year | $199.6M / $241.9M |
| Active participants, start / end of year | 5,125 / 4,938 |
| Participants with account balances | 5,488 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Holthouse Carlin & Van Trigt LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $403,341 reported compensation |
| Charles Schwab & Co., Inc. | $694 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251120154234NAL0003008179001, received 2025-11-20, EIN 27-4538887, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.