Richard Design Services, Inc. 401(k) Review & Grade
Richard Design Services, Inc. - Full-Time Regular 401(k) Plan
Beaumont, TXProfessional, Scientific & Technical Services583 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,053Employer $ per active participant
$8,884Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$104.1MNet plan assets, end of year
$170,923Average balance per account
Score breakdown
- Employer generosity24.8 / 5050th percentile for employer $ per participant
- Low cost10.6 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving7.3 / 1549th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 42th |
| Employee saving | 49th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $8,167 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Richard Design Services put in about $3,053 per active participant, below the typical peer ($3,082). 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.
- 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 | $1,780,020 |
| Participant (employee) contributions | $5,179,311 |
| Other contributions (incl. rollovers in) | $513,045 |
| Administrative expenses paid from the plan | $278,380 |
| Contract administrator fees | $278,380 |
| Benefits paid out | $7,600,377 |
| Net assets, start / end of year | $91.7M / $104.1M |
| Active participants, start / end of year | 570 / 596 |
| Participants with account balances | 609 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lawrence, Blackburn, Meek, Maxey & |
Largest service providers (Schedule C)
| John Hancock Life Insurance Company | $8,788 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013112849NAL0001212609001, received 2025-10-13, EIN 20-2036476, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.