Moore's Electrical & Mechanical Construction, Inc. 401(k) Review & Grade
Moore's Electrical & Mechanical Construction, Inc. 401(k) Plan
Altavista, VAConstruction604 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,294Employer $ per active participant
$3,995Employee $ saved per active participant
0.46%Direct admin cost, % of plan assets
$30.5MNet plan assets, end of year
$41,168Average balance per account
Score breakdown
- Employer generosity20.2 / 5040th percentile for employer $ per participant
- Low cost6.3 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving7.5 / 1550th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 40th |
| Lower admin cost | 25th |
| Employee saving | 50th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $262 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Moore's Electrical & Mechanical Construction put in about $1,294 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.
- Direct plan expenses (0.46% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $781,095 |
| Participant (employee) contributions | $2,410,818 |
| Other contributions (incl. rollovers in) | $650,807 |
| Administrative expenses paid from the plan | $131,650 |
| Contract administrator fees | $13,539 |
| Investment advisory & management fees | $72,861 |
| Benefits paid out | $2,782,665 |
| Net assets, start / end of year | $26.2M / $30.5M |
| Active participants, start / end of year | 575 / 632 |
| Participants with account balances | 740 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Shelton & Company Cpas P.C. |
Largest service providers (Schedule C)
| Raymond James | $68,567 reported compensation |
| Empower Annuity Insurance Company | $45,250 reported compensation |
| Blue Ridge Esop Associates | $16,684 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014142330NAL0001496227001, received 2025-10-14, EIN 54-1598347, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.