Graybar Electric Company, Inc. 401(k) Review & Grade
The Profit Sharing and Savings Plan of Graybar Electric Company, Inc.
ST. Louis, MOWholesale Trade8,444 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,683Employer $ per active participant
$4,728Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$2.0BNet plan assets, end of year
$167,695Average balance per account
Score breakdown
- Employer generosity49.0 / 5098th percentile for employer $ per participant
- Low cost18.4 / 2574th percentile for low admin cost vs. same-size plans
- Employee saving5.3 / 1535th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 98th |
| Lower admin cost | 74th |
| Employee saving | 35th |
| Peers that auto-enroll | 62% |
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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 ($19,878 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $96,721 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Graybar Electric Company put in about $8,683 per active participant, more than the typical peer ($2,459). 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.
- 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 | $73,318,502 |
| Participant (employee) contributions | $39,917,212 |
| Other contributions (incl. rollovers in) | $12,721,785 |
| Administrative expenses paid from the plan | $1,092,271 |
| Investment advisory & management fees | $384,873 |
| Other admin expenses | $69,955 |
| Benefits paid out | $160,867,628 |
| Net assets, start / end of year | $1.7B / $2.0B |
| Active participants, start / end of year | 8,193 / 8,694 |
| Participants with account balances | 11,637 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Armanino LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $640,621 reported compensation |
| Vanguard Advisers Inc. | $234,873 reported compensation |
| Regions Bank | $150,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013105350NAL0000509795001, received 2025-10-13, EIN 13-0794380, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.