The Turner Corporation 401(k) Review & Grade
Turner Retirement Investment Plan
New York, NYConstruction7,670 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$10,117Employer $ per active participant
$12,689Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$2.8BNet plan assets, end of year
$265,140Average balance per account
Score breakdown
- Employer generosity47.3 / 5095th percentile for employer $ per participant
- Low cost24.4 / 2598th percentile for low admin cost vs. same-size plans
- Employee saving14.8 / 1599th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score83 / 100 · Grade A
This plan vs. peers
Peers: Construction plans with 2,500–9,999 active participants (76 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 98th |
| Employee saving | 99th |
| Peers that auto-enroll | 57% |
Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $21,856 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Turner put in about $10,117 per active participant, more than the typical peer ($1,965). 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 | $77,594,664 |
| Participant (employee) contributions | $97,321,468 |
| Other contributions (incl. rollovers in) | $15,694,930 |
| Administrative expenses paid from the plan | $253,796 |
| Benefits paid out | $231,405,929 |
| Net assets, start / end of year | $2.4B / $2.8B |
| Active participants, start / end of year | 7,480 / 7,860 |
| Participants with account balances | 10,471 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $209,764 reported compensation |
| Cohnreznick LLP | $44,032 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929141444NAL0015313443001, received 2025-09-29, EIN 13-3209884, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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