Gorman & Company, LLC 401(k) Review & Grade
Gorman 401(k) Plan
Oregon, WIReal Estate & Rental577 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,956Employer $ per active participant
$4,249Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$35.8MNet plan assets, end of year
$52,148Average balance per account
Score breakdown
- Employer generosity40.5 / 5081th percentile for employer $ per participant
- Low cost10.0 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1558th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score69 / 100 · Grade B
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 40th |
| Employee saving | 58th |
| Peers that auto-enroll | 47% |
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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
- Gorman & Company put in about $2,956 per active participant, more than the typical peer ($1,279). 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 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 | $1,705,884 |
| Participant (employee) contributions | $2,451,710 |
| Other contributions (incl. rollovers in) | $247,234 |
| Administrative expenses paid from the plan | $99,333 |
| Investment advisory & management fees | $25,398 |
| Benefits paid out | $2,648,390 |
| Net assets, start / end of year | $29.9M / $35.8M |
| Active participants, start / end of year | 552 / 602 |
| Participants with account balances | 686 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wegner Cpas |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $73,935 reported compensation |
| Empower Advisory Group, LLC | $12,683 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $6,526 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250829153721NAL0011428353001, received 2025-08-29, EIN 82-3739186, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.