Richards Building Supply Co. 401(k) Review & Grade
Richards Building Supply Co. Profit Sharing Plan
Homer Glen, ILWholesale Trade640 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,993Employer $ per active participant
$5,329Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$55.9MNet plan assets, end of year
$103,321Average balance per account
Score breakdown
- Employer generosity36.9 / 5074th percentile for employer $ per participant
- Low cost14.6 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving9.1 / 1561th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 74th |
| Lower admin cost | 58th |
| Employee saving | 61th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Richards Building Supply put in about $2,993 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.
- 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 | $1,917,132 |
| Participant (employee) contributions | $3,413,135 |
| Other contributions (incl. rollovers in) | $483,367 |
| Administrative expenses paid from the plan | $91,766 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $57,818 |
| Benefits paid out | $3,471,988 |
| Net assets, start / end of year | $47.7M / $55.9M |
| Active participants, start / end of year | 637 / 644 |
| Participants with account balances | 541 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eifel Rambo Advisory Group LTD |
Largest service providers (Schedule C)
| Old National Bank | $44,167 reported compensation |
| Fidelity Investments Institutional | $33,948 reported compensation |
| Strategic Advisors, Inc. | $13,650 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013170008NAL0000854819001, received 2025-10-13, EIN 36-2958463, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.