Gray Construction, Inc 401(k) Review & Grade
Gray Retirement Savings Plan
Lexington, KYConstruction2,230 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$29Employer $ per active participant
$9,101Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$208.6MNet plan assets, end of year
$78,121Average balance per account
Score breakdown
- Employer generosity1.7 / 503th percentile for employer $ per participant
- Low cost15.7 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving13.7 / 1591th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 3th |
| Lower admin cost | 63th |
| Employee saving | 91th |
| Peers that auto-enroll | 44% |
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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 ($204,542 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $2,750 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Gray Construction put in about $29 per active participant, below the typical peer ($1,672). 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.
- 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.
- 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 | $64,265 |
| Participant (employee) contributions | $20,295,580 |
| Other contributions (incl. rollovers in) | $3,661,058 |
| Administrative expenses paid from the plan | $301,186 |
| Investment advisory & management fees | $495 |
| Benefits paid out | $23,395,982 |
| Net assets, start / end of year | $186.1M / $208.6M |
| Active participants, start / end of year | 2,205 / 2,255 |
| Participants with account balances | 2,670 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $300,691 reported compensation |
| Charles Schwab & Co., Inc. | $495 reported compensation |
| National Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250806181856NAL0003081267001, received 2025-08-06, EIN 61-0990546, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.