Phillips Infrastructure Holdings, Inc. 401(k) Review & Grade
Phillips Infrastructure Holdings, Inc. 401(k) Retirement Savings Plan
Knoxville, TNConstruction1,328 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,826Employer $ per active participant
$6,483Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$77.0MNet plan assets, end of year
$40,830Average balance per account
Score breakdown
- Employer generosity27.1 / 5054th percentile for employer $ per participant
- Low cost9.5 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving11.9 / 1579th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 38th |
| Employee saving | 79th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $49 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Phillips Infrastructure Holdings put in about $1,826 per active participant, more than the typical peer ($1,672). 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 | $2,423,812 |
| Participant (employee) contributions | $8,605,883 |
| Other contributions (incl. rollovers in) | $315,884 |
| Administrative expenses paid from the plan | $229,472 |
| Other admin expenses | $51,038 |
| Benefits paid out | $9,096,019 |
| Net assets, start / end of year | $65.8M / $77.0M |
| Active participants, start / end of year | 1,060 / 1,595 |
| Participants with account balances | 1,885 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rodefer Moss & Co, PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $178,434 reported compensation |
| XXX | $51,038 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015175000NAL0007099568001, received 2025-10-15, EIN 82-3206761, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.