Lin R. Rogers Electrical Contractors 401(k) match, vesting and fees
What Lin R. Rogers Electrical Contractors' 401(k) plan says about matching contributions
The Company made discretionary matching contributions equal to 40 percent of employee contributions up to 10 percent of eligible compensation for the year ended December 31, 2024. Discretionary matching contributions for 2024 totaled $1,627,179.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 30 ↗ |
| Match vesting | Participants are vested immediately in their voluntary contributions and prevailing wage contributions plus actual earnings thereon. Vesting in the Company’s discretionary matching and profit sharing contribution portions of their accounts is based on years of continuous service. A participant is 100 percent vested after 6 years of credited service. | Audit report, p. 31 ↗ |
| Automatic enrollment | The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at 5 percent of eligible compensation and their contributions invested in a designated balanced fund until changed by the participant. Each year, participants who were automatically enrolled will have their deferral rate increased by 1 percent, up to 10 percent, unless they opt out of the automatic increase program. | Audit report, p. 30 ↗ |
| Loans | Participants may borrow from their accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50 percent of their vested account balance. The loans are secured by the balance in the participant’s account. The loan interest rate is prime plus one percent and remains fixed throughout the duration of the loan. | Audit report, p. 31 ↗ |
| Recordkeeper | Empower Annuity Insurance Company O | Schedule C ↗ |
| Independent auditor | Elliott Davis, LLC (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 570 defined-contribution plans in construction with 1,000 to 4,999 participants.
| Lin R. Rogers Electrical Contractors: employer contribution per participant | $1,630 | |
| Peer median | $2,900 |
| Lin R. Rogers Electrical Contractors: average balance | $47,830 | |
| Peer median | $67,876 |
| Lin R. Rogers Electrical Contractors: admin expenses ÷ assets | 0.32% | |
| Peer median | 0.26% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $45.8M at the end of plan year 2021 to $54.7M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,218 | $54.7M | $1.9M | $1,630 | 0.32% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2023 | 1,119 | $47.8M | $1.6M | $1,482 | 0.32% | Not published | Form 5500 ↗ |
| 2022 | 1,267 | $41.4M | $1.4M | $1,187 | 0.33% | Not published | Form 5500 ↗ |
| 2021 | 1,182 | $45.8M | $1.4M | $1,311 | 0.61% | Not published | Form 5500 ↗ |
Common questions
Does Lin R. Rogers Electrical Contractors match 401(k) contributions?
The audit report attached to the Lin R. Rogers Electrical Contractors, Inc. 401(k) Profit Sharing Plan's plan year 2024 Form 5500, page 30 says: “The Company made discretionary matching contributions equal to 40 percent of employee contributions up to 10 percent of eligible compensation for the year ended December 31, 2024. Discretionary matching contributions for 2024 totaled $1,627,179.” Plan terms may have changed; check your current Summary Plan Description.
When is the Lin R. Rogers Electrical Contractors 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 31 says: “Participants are vested immediately in their voluntary contributions and prevailing wage contributions plus actual earnings thereon. Vesting in the Company’s discretionary matching and profit sharing contribution portions of their accounts is based on years of continuous service. A participant is 100 percent vested after 6 years of credited service.”
Who manages the Lin R. Rogers Electrical Contractors 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Annuity Insurance Company O. The plan administrator is Lin R. Rogers Electrical Contractors, Inc..
I left Lin R. Rogers Electrical Contractors. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Lin R. Rogers Electrical Contractors, Inc., (770) 772-3492) or the recordkeeper, Empower Annuity Insurance Company O. The Lin R. Rogers Electrical Contractors old 401(k) page lists the contacts from every plan filing. Find an old Lin R. Rogers Electrical Contractors 401(k)
Data from the public Form 5500 annual reports Lin R. Rogers Electrical Contractors filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Lin R. Rogers Electrical Contractors. Not financial advice. Report a correction · Methodology