Furnitureland South, Inc. 401(k) Review & Grade
Furnitureland South, Inc. 401(k) Plan
Jamestown, NCRetail Trade563 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,748Employer $ per active participant
$3,616Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$38.8MNet plan assets, end of year
$92,271Average balance per account
Score breakdown
- Employer generosity40.4 / 5081th percentile for employer $ per participant
- Low cost15.1 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving9.0 / 1560th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 60th |
| Employee saving | 60th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Furnitureland South put in about $1,748 per active participant, more than the typical peer ($743). 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.
- 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 | $984,215 |
| Participant (employee) contributions | $2,035,925 |
| Other contributions (incl. rollovers in) | $22,615 |
| Administrative expenses paid from the plan | $61,311 |
| Contract administrator fees | $61,311 |
| Benefits paid out | $3,266,719 |
| Net assets, start / end of year | $35.2M / $38.8M |
| Active participants, start / end of year | 575 / 551 |
| Participants with account balances | 420 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Smith Leonard PLLC |
Largest service providers (Schedule C)
| Stancorp Financial Group | $79,298 reported compensation |
| Rpa Financial LLC | $33,688 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014142438NAL0006307826001, received 2025-10-14, EIN 56-0958180, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.