Plan Ledger DOL Form 5500 · updated monthly

The Beaver Excavating Company401(k)

THE BEAVER EXCAVATING COMPANY PROFIT SHARING PLAN · CANTON, OH · plan year 2024

Employer contribution per participant · 2024
$6,821

The Beaver Excavating Company's 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $47,863,190 across 295 participant accounts, with employer contributions averaging $6,821 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other construction employers. By assets it is the 680th-largest of 3,295 plans among Ohio employers on file, and the 1,080th of 5,337 in construction. In 2024, employees put in $1.17 for every $1.00 the employer contributed; active participation has grown from 202 to 250 since 2022.

Plan summary
Net assets, end of year$47,863,190
Participants with balances295
Active participants250
Employer contributions$1,705,278
Employee contributions$1,987,762
Employer contribution per active participant$6,821
Average account balance$162,248
Benefits paid to participants$2,786,800
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$47.9M · 295 accts · $1.7M emplr
2023$40.7M · 266 accts · $1.4M emplr
2022$35.0M · 239 accts · $1.3M emplr
The The Beaver Excavating Company 401(k) match · 2024
Employer contribution per active participant$6,821
Median for plans this size$2,416
2024$6,821 per active participant
2023$5,875 per active participant
2022$6,212 per active participant

The Beaver Excavating Company's 2024 employer contribution ran above the $2,416 median for plans its size, placing it in the top quarter of its peers. 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.

Administrative cost history3
2024Not separately reported
2023Not separately reported
2022Not separately reported
Same employer
Similar plansConstruction · Ohio
Contract Lumber, Inc. OH$49.9M · 0.26%
George J. Igel & Co., Inc. OH$46.9M · 0.35%
Prus Construction Company OH$45.6M · 0.21%

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Source: U.S. Department of Labor, Form 5500 series, EIN 340905531 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.