Wellborn Forest Products, Inc. 401(k) Review & Grade
Wellborn Forest Products, Inc. 401(k) Plan
Alexander City, ALManufacturing590 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$692Employer $ per active participant
$1,197Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$9.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity5.1 / 5010th percentile for employer $ per participant
- Low cost20.6 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving0.7 / 154th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 10th |
| Lower admin cost | 83th |
| Employee saving | 4th |
| Peers that auto-enroll | 59% |
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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
- Wellborn Forest Products put in about $692 per active participant, below the typical peer ($2,320). 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 | $408,430 |
| Participant (employee) contributions | $706,473 |
| Other contributions (incl. rollovers in) | $78,205 |
| Administrative expenses paid from the plan | $5,556 |
| Benefits paid out | $964,656 |
| Net assets, start / end of year | $7.7M / $9.0M |
| Active participants, start / end of year | 588 / 592 |
| Participants with account balances | 199 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bmss LLC |
Largest service providers (Schedule C)
| Adp, Inc. | $5,555 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250916051608NAL0001689137001, received 2025-09-16, EIN 20-5872901, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.