Thomas Concrete Industries 401(k) match, vesting and fees
What Thomas Concrete Industries' 401(k) plan says about matching contributions
The Company may make discretionary matching contributions and discretionary profit-sharing contributions to the Plan. The discretionary matching contribution is equal to a percentage of the participant’s salary deferrals. The discretionary profit-sharing contribution will be divided among participants eligible to share in the contribution as defined in the Plan document. During 2024, the Company did not elect to make discretionary matching contributions or discretionary profit-sharing contributions to the Plan. The Company makes a safe-harbor matching contribution equal to 100% of participant contributions up to 4% of eligible compensation. During 2024, the Company contributed $2,846,269 as a safe-harbor matching contribution, which is net of $105,534 forfeitures used to reduce employer contributions.
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 | 2024 audit report, p. 30 ↗ |
| Match vesting | Participants are vested immediately in their contributions and safe-harbor matching contributions plus actual earnings and losses thereon. Participants who were employed with the Company on or after January 1, 2016 are immediately fully vested in Company discretionary matching and discretionary profit-sharing contributions. Participants who were terminated prior to January 1, 2016 are subject to the six year graded vesting schedule with 20% vested after two years of service and 20% each year thereafter. | 2024 audit report, p. 31 ↗ |
| Automatic enrollment | The participants are automatically enrolled at 2% unless the participant elects otherwise. | 2024 audit report, p. 30 ↗ |
| Roth contributions | Each participant may elect to make pre-tax contributions and/or Roth contributions of up to 100% of eligible compensation as defined by the Plan document, not to exceed a maximum of $23,000 in 2024, plus an additional $7,500 if the employee has attained age 50 by the end of the Plan year. | 2024 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% of the vested balance of their account. | 2024 audit report, p. 31 ↗ |
| Recordkeeper | Transamerica Retirement Solutions, | 2025 Schedule C ↗ |
| Independent auditor | Windham Brannon LLC (unmodified opinion, limited scope) | 2025 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2025 Form 5500 ↗ |
Match, vesting and other plan features are from the plan year 2024 filing's audit report (the latest one extracted so far). Rows cited to the Form 5500 and its schedules are from the plan year 2025 filing.
How the plan compares
Plan year 2025 medians for 434 defined-contribution plans in manufacturing with 1,000 to 4,999 participants.
| Thomas Concrete Industries: employer contribution per participant | $2,057 | |
| Peer median | $2,591 |
| Thomas Concrete Industries: average balance | $39,383 | |
| Peer median | $102,504 |
| Thomas Concrete Industries: admin expenses ÷ assets | 0.60% | |
| Peer median | 0.11% |
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 $44.5M at the end of plan year 2021 to $59.2M at the end of plan year 2025.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2025 | 1,673 | $59.2M | $3.1M | $2,057 | 0.60% | Not published | Form 5500 ↗ |
| 2024 | 1,503 | $53M | $3M | $2,297 | 0.80% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2023 | 1,470 | $45.4M | $2.6M | $2,191 | 0.51% | Not published | Form 5500 ↗ |
| 2022 | 1,394 | $38.5M | $2.3M | $2,206 | 0.46% | Not published | Form 5500 ↗ |
| 2021 | 1,290 | $44.5M | $2M | $2,336 | 0.25% | Not published | Form 5500 ↗ |
Common questions
Does Thomas Concrete Industries match 401(k) contributions?
The audit report attached to the Thomas Concrete, Inc. 401(k) Profit Sharing Plan's plan year 2024 Form 5500, page 30 says: “The Company may make discretionary matching contributions and discretionary profit-sharing contributions to the Plan. The discretionary matching contribution is equal to a percentage of the participant’s salary deferrals. The discretionary profit-sharing contribution will be divided among participants eligible to share in the contribution as defined in the Plan document. During 2024, the Company did not elect to make discretionary matching contributions or discretionary profit-sharing contributions to the Plan. The Company makes a safe-harbor matching contribution equal to 100% of participant contributions up to 4% of eligible compensation. During 2024, the Company contributed $2,846,269 as a safe-harbor matching contribution, which is net of $105,534 forfeitures used to reduce employer contributions.” Plan terms may have changed; check your current Summary Plan Description.
When is the Thomas Concrete Industries 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 31 says: “Participants are vested immediately in their contributions and safe-harbor matching contributions plus actual earnings and losses thereon. Participants who were employed with the Company on or after January 1, 2016 are immediately fully vested in Company discretionary matching and discretionary profit-sharing contributions. Participants who were terminated prior to January 1, 2016 are subject to the six year graded vesting schedule with 20% vested after two years of service and 20% each year thereafter.”
Who manages the Thomas Concrete Industries 401(k)?
The recordkeeper listed on Schedule C of the plan year 2025 filing is Transamerica Retirement Solutions,. The plan administrator is Thomas Concrete Industries, Inc..
I left Thomas Concrete Industries. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Thomas Concrete Industries, Inc., (770) 431-3300) or the recordkeeper, Transamerica Retirement Solutions,. The Thomas Concrete Industries old 401(k) page lists the contacts from every plan filing. Find an old Thomas Concrete Industries 401(k)
Data from the public Form 5500 annual reports Thomas Concrete Industries filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024 and 2025) 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 Thomas Concrete Industries. Not financial advice. Report a correction · Methodology