Drake Enterprises, LTD401(k)
DRAKE ENTERPRISES, LTD 401(K) PLAN · FRANKLIN, NC · plan year 2023
Peer grade: B+ · admin costs + employer contributions vs same-size plans · how grading works
Drake Enterprises, LTD reported $44,217 in plan administrative expenses for 2023: 0.48% of average plan assets, below the peer median. Employer contributions averaged $1,930 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.44% to 0.50%. The plan sits in the $1M–$10M size bracket, benchmarked here against 22,307 comparable plans and shown alongside other professional & technical services employers. By assets it is among the smaller plans on file in North Carolina (1,140th of 2,005), and 8,150th of 11,654 in professional & technical services. In 2023, employees put in $1.86 for every $1.00 the employer contributed; active participation has shrunk from 134 to 114 since 2022.
Drake Enterprises, LTD's 2023 employer contribution ran above the $1,308 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2023 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 561494243 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.