Granite Construction Incorporated 401(k) Review & Grade
Granite Construction Profit Sharing and 401(k) Plan
Watsonville, CAConstruction3,360 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,959Employer $ per active participant
$8,945Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$819.4MNet plan assets, end of year
$144,585Average balance per account
Score breakdown
- Employer generosity43.3 / 5087th percentile for employer $ per participant
- Low cost21.9 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving12.6 / 1584th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Construction plans with 2,500–9,999 active participants (76 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 88th |
| Employee saving | 84th |
| Peers that auto-enroll | 57% |
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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
- Granite Construction Incorporated put in about $5,959 per active participant, more than the typical peer ($1,965). 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 | $20,018,053 |
| Participant (employee) contributions | $30,050,232 |
| Other contributions (incl. rollovers in) | $4,977,244 |
| Administrative expenses paid from the plan | $230,014 |
| Investment advisory & management fees | $5,127 |
| Other admin expenses | $600 |
| Benefits paid out | −$142,949,953 |
| Net assets, start / end of year | $502.4M / $819.4M |
| Active participants, start / end of year | 3,307 / 3,412 |
| Participants with account balances | 5,667 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Weaver and Tidwell, LLP |
| Employer stock held by plan | $55,679,017 |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $224,287 reported compensation |
| State Street Global Advisors | $5,127 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250718190309NAL0003683714001, received 2025-07-18, EIN 77-0239383, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.