Gregory Poole Equipment Company 401(k) Review & Grade
Gregory Poole Equipment Company Retirement Savings and Profit Sharing Plan
Raleigh, NCWholesale Trade1,439 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,052Employer $ per active participant
$6,241Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$167.4MNet plan assets, end of year
$94,967Average balance per account
Score breakdown
- Employer generosity28.4 / 5057th percentile for employer $ per participant
- Low cost16.3 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving10.6 / 1571th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 65th |
| Employee saving | 71th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,661 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Gregory Poole Equipment put in about $2,052 per active participant, more than the typical peer ($1,792). 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 | $2,952,433 |
| Participant (employee) contributions | $8,981,321 |
| Other contributions (incl. rollovers in) | $291,457 |
| Administrative expenses paid from the plan | $219,297 |
| Investment advisory & management fees | $25,000 |
| Benefits paid out | $8,842,156 |
| Net assets, start / end of year | $144.7M / $167.4M |
| Active participants, start / end of year | 1,395 / 1,483 |
| Participants with account balances | 1,763 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Romeo, Wiggins & Company, L.L.P. |
Largest service providers (Schedule C)
| Oneamerica Retirment Services | $186,122 reported compensation |
| American United Life Insurance Co | $25,000 reported compensation |
| Romeo Wiggins & Company LLP | $8,175 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014084408NAL0001132115001, received 2025-10-14, EIN 56-0487311, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.