Georgia Pine Clothiers, LLC 401(k) Review & Grade
J. Mclaughlin 401(k) Plan
Brooklyn, NYRetail Trade824 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$758Employer $ per active participant
$1,860Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$10.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity25.3 / 5051th percentile for employer $ per participant
- Low cost17.5 / 2570th percentile for low admin cost vs. same-size plans
- Employee saving4.7 / 1532th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 70th |
| Employee saving | 32th |
| Peers that auto-enroll | 48% |
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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 ($242,075 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Georgia Pine Clothiers put in about $758 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.
- 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 | $624,529 |
| Participant (employee) contributions | $1,531,408 |
| Other contributions (incl. rollovers in) | $95,802 |
| Administrative expenses paid from the plan | $10,815 |
| Benefits paid out | $751,542 |
| Net assets, start / end of year | $7.9M / $10.6M |
| Active participants, start / end of year | 808 / 839 |
| Participants with account balances | 284 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Voya Retirement Advisors, LLC | $4,811 reported compensation |
| Voya Retirement Insurance and Annui | $4,355 reported compensation |
| Morningstar | $1,402 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003103723NAL0000759395001, received 2025-10-03, EIN 13-3057139, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.