Walter P. Rawl & Sons, Inc. 401(k) Review & Grade
Walter P. Rawl & Sons, Inc. Retirement Plan
Pelion, SCAgriculture, Forestry, Fishing & Hunting714 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$590Employer $ per active participant
$1,092Employee $ saved per active participant
0.67%Direct admin cost, % of plan assets
$14.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity19.2 / 5038th percentile for employer $ per participant
- Low cost3.6 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving4.2 / 1528th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 38th |
| Lower admin cost | 14th |
| Employee saving | 28th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $25 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Walter P. Rawl & Sons put in about $590 per active participant, below the typical peer ($774). 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 (0.67% 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 | $421,212 |
| Participant (employee) contributions | $780,305 |
| Other contributions (incl. rollovers in) | $62,081 |
| Administrative expenses paid from the plan | $85,563 |
| Contract administrator fees | $85,563 |
| Benefits paid out | $823,473 |
| Net assets, start / end of year | $11.7M / $14.0M |
| Active participants, start / end of year | 783 / 646 |
| Participants with account balances | 190 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mauldin & Jenkins, LLC |
Largest service providers (Schedule C)
| Merrill Lynch - Eps | $19,646 reported compensation |
| Merrill Lynch - Pas | $13,097 reported compensation |
| John Hancock Life Insurance Company | $4,072 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009152435NAL0006798209001, received 2025-10-09, EIN 56-2043532, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.