Gillman Services, Inc. 401(k) Review & Grade
Gillman Services, Inc. 401(k) Plan
Houston, TXRetail Trade894 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$493Employer $ per active participant
$3,217Employee $ saved per active participant
0.42%Direct admin cost, % of plan assets
$30.4MNet plan assets, end of year
$27,921Average balance per account
Score breakdown
- Employer generosity18.1 / 5036th percentile for employer $ per participant
- Low cost7.1 / 2529th percentile for low admin cost vs. same-size plans
- Employee saving8.2 / 1555th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 36th |
| Lower admin cost | 29th |
| Employee saving | 55th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Gillman Services put in about $493 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 (0.42% 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 | $440,380 |
| Participant (employee) contributions | $2,876,054 |
| Other contributions (incl. rollovers in) | $320,121 |
| Administrative expenses paid from the plan | $125,480 |
| Investment advisory & management fees | $7,290 |
| Benefits paid out | $5,206,148 |
| Net assets, start / end of year | $28.9M / $30.4M |
| Active participants, start / end of year | 867 / 921 |
| Participants with account balances | 1,090 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Aprio LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $118,190 reported compensation |
| Empower Advisory Group, LLC | $7,290 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251016071026NAL0012678354001, received 2025-10-16, EIN 74-1597662, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.