An Evaluation of Texas Small Business 401k Plans: How Does Yours Stack Up?

401K - Perfect Solution !?

This person probably isn’t contributing enough to the 401k.

“This is America. We’re entitled to our opinions.”
“Wrong. This is Texas. And my opinion is the only one that counts.”
― Susan Elizabeth Phillips

Every year, 401k plan administrators are required to file information about their plan holdings and contributions to the Department of Labor. Plans with under 100 participants but more than one participant are required to file a Form 5500-SF.

The Department of Labor makes the data from the filings available online. Included in the filings are the assets that the 401k plan holds, the number of participants, how much employers contributed, and how much employees contributed.

There are two problems with the data that I can see:

  1. The data comes in an enormous delimited file, meaning that unless you have a reasonable amount of ability to work with Excel or a data manipulation program, it’s hard to figure out what is meaningful information. This means that the public at large must rely on third party services to look at 401k plan information.
  2. The data appears to be incomplete. In the 2013 data set for small business filings, there were 2,222 filings and only 95 from Texas. Of those 95, only 80 had meaningful data. That doesn’t pass the sniff test.

Still, given the limitations of the data, I evaluated how each of the publicly posted Texas businesses who filed Form 5500-SF in 2013 did on three major metrics:

  • Average assets per contributing employee
  • Average employer contribution
  • Average employee contribution

Before we get into the data, let me explain a couple of points that may appear to be discrepancies.

First, the assets were measured at the end of the year. It is possible that plan participants contributed and then withdrew or took out 401k loans, skewing the numbers.

Secondly, while we’re all familiar with the usual corporate matches, if offered – usually matching 100% of the first 3% or 50% of the first 6% (read “The Four Biggest Mistakes You’re Making in Your 401k” to see which I prefer) – employers have the option to contribute more to their employees’ accounts.

If you want to look at your own employer’s plan, you can use the EFAST search to see their filing.

Texas Small Business 401k Plans By the Numbers


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Average Assets per Contributing Employee

Texas small business 401k plans have a higher average than nationally. The national average is $84,300, while the Texas average balance is $128,486.

This only tells part of the story. Averages can be skewed by high numbers more easily than low numbers. The largest average reported balance was $735,785. The median average balance per employee was $70,292, meaning that 50% of the employees in Texas plans had less than $70,292 in their 401k and 50% had more.

Company Name Average assets per contributing employee Rank of Average Assets Per Contributing Employee
PERIODONTAL ASSOCIATES, P.C. $735,785.00 1
VISUAL CNC, INC. $653,693.38 2
CREED RICE COMPANY, INC. $639,091.00 3
MICHAEL M. KATZ, MD PA $536,179.50 4
D & D WINCO2 $491,717.50 5
DONNA BROWN, P.C. $419,841.00 6
TURNER DENNIS & NOACK PC $397,702.86 7
TOSC INTERNATIONAL, INC. $320,566.44 8
ICENOGLE & SULLIVAN PLLC $284,998.00 9
CARDIAC PERFUSION SERVICES, INC. $259,380.60 10
JOSEPH K. LEVENO, M.D., P.A. $210,352.50 11
BALDAUF HERRIN & ASSOCIATES, INC. $202,953.75 12
SEMINOLE PUBLIC SCHOOLS FEDERAL CREDIT UNION $191,320.00 13
FRAM GROUP TEXAS, LLC $167,522.00 14
PLAINS ROOFING, INC. $145,839.67 15
SPACE CENTER ORTHODONTICS $144,940.00 16
COLVIN, INC. $142,939.40 17
GRAPEVINE PEDIATRIC CLINIC, PA $142,631.69 18
FIFTY FIVE, LLC $141,627.67 19
MASTERS CONSULTING LLC $138,706.00 20
JACKSON DENTAL $135,899.13 21
SUNSET BOULEVARD ANIMAL CLINIC, I, LTD $129,594.83 22
ABC COIN SORTING COUNTING SUPPLY, INC. $128,479.64 23
AMCORP, INC. $126,812.53 24
FERNANDO A. CASTANEDA, MD, PA $115,210.40 25
POINTWISE, INC. $114,234.36 26
SUNSET PROGRAMMING, INC. $112,928.50 27
THE CAILLOUX FOUNDATION $111,176.17 28
HEMATOLOGY ONCOLOGY ASSOCIATES OF HOUSTON, P.A. $105,776.48 29
REBECCA M. ROBERT, MD, PA $101,823.20 30
SHEPHERD CONTROLS & ASSOCIATES, INC $100,837.19 31
PEOPLES BANK $98,173.73 32
FORTRESS PROPERTIES LTD $96,905.63 33
LEECO SPRING INTERNATIONAL $86,113.92 34
CRITICAL PATH STRATEGIES, INC. $85,071.47 35
ESTAFF LLC $82,276.00 36
THF, L.L.C. $81,757.87 37
BEN SPURGIN INSURANCE AGENCY $80,845.00 38
PAUL W. JOHN, M.D., P.A. $78,573.71 39
DIGITALMARKETS, INC. $74,622.40 40
JUNCTION NATIONAL BANK $65,962.50 41
WALKER & SOLOMON AGENCY, INC. $64,347.73 42
SDB TRADE INTERNATIONAL, LP $62,931.86 43
MALCOLM R. BERG, DMD, PLLC $53,460.06 44
SCOTTS STUFF INC $52,967.50 45
XCHANGING SYSTEMS & SERVICES, INC. $50,221.19 46
1ST COMMUNITY FEDERAL CREDIT UNION $50,202.91 47
ENERGYNET.COM, INC. $48,693.22 48
PIERSON & FENDLEY, L.L.C. $47,416.18 49
AUTO WORLD GALLERIA INC $46,423.00 50
JOHNSON PUMPING, INC. $46,169.25 51
INDUSTRIAL DIESEL, INC. $45,106.80 52
COMMERCIAL WASHING SYSTEMS, INC. $44,618.22 53
D/G STUDIOS, INC. $44,026.44 54
LINDINGER INSPECTION ENGINEERS, INC. $42,910.05 55
BAKER GLASS, INC. $42,304.63 56
ELECTRACOM SUPPLY, INC. $40,268.33 57
GAGE VAN HORN AND ASSOCIATES, INC. $35,968.49 58
LAW OFFICES OF JEFFREY R. SINGER, PC $33,076.00 59
JACK OBOYLE & ASSOCIATES $31,223.28 60
CRAFTCORPS, INC. $27,745.16 61
NEIGHBORHOOD HEALTH CARE SERVICES, INC. $26,579.13 62
BEECHEM EQUIPMENT, INC. $26,142.78 63
CASH REGISTER SERVICES, INC. $25,550.56 64
ALCUIN SCHOOL $25,198.43 65
NORWAY IRRIGATION, INC. $24,218.56 66
TUMBLEWEED TRADERS, LLP, DBA WILD WEST HARLEY-DAVIDSON $21,955.78 67
ROBERT H FAIN JR MD PA $21,680.33 68
ELLEN W. LIN M.D., P.A. $19,364.25 69
ESTRIDGE & ASSOCIATES, INC. $18,144.67 70
INDUSTRIAL DIESEL MANUFACTURING & SERVICE LTD. $15,557.76 71
MEDICAL DENTAL HOSPITAL BUREAU OF SAN ANTONIO $15,493.02 72
OURCO SUPPLY CORP $11,365.60 73
WELBOR TECHNOLOGY, INC. $10,537.67 74
LUMBERTON FIRE & EMS INC. $5,907.00 75
STEVENS LOVE, PLLC $5,861.36 76
M&M DESIGNS INC, INTERGRATED $3,285.50 77
ASSOCIATED SEMICONDUCTOR SUPPORT & ,EQUUPMENT TECHNOLOGY SOLUTIONS, IN $3,068.67 78
J O B E SERVICES INC $421.75 79
GTL USA INC. $270.13 80

Average Employer Contribution

In Texas, the average employer contribution was $44,669. The maximum average contribution was $270,840, and the minimum was $0. The median contribution was $20,500.

There are two reasons that the maximum average contribution number could be high: first, employees may have left during the year, skewing the contribution per employee high. The second is that defined benefit pension plans can also report using Form SF-5500, and they have a higher limit.

Company Name Average employer contribution per contributing employee Rank of Employer Contribution Per Contributing Employee
PEOPLES BANK $270,847.00 1
CASH REGISTER SERVICES, INC. $202,353.00 2
GRAPEVINE PEDIATRIC CLINIC, PA $170,804.00 3
XCHANGING SYSTEMS & SERVICES, INC. $157,032.00 4
ALCUIN SCHOOL $155,639.00 5
1ST COMMUNITY FEDERAL CREDIT UNION $154,989.00 6
SPACE CENTER ORTHODONTICS $135,915.00 7
ELECTRACOM SUPPLY, INC. $130,094.00 8
JACK OBOYLE & ASSOCIATES $128,313.00 9
FIFTY FIVE, LLC $109,912.00 10
CREED RICE COMPANY, INC. $97,250.00 11
POINTWISE, INC. $93,944.00 12
GAGE VAN HORN AND ASSOCIATES, INC. $85,747.00 13
CARDIAC PERFUSION SERVICES, INC. $85,035.00 14
THF, L.L.C. $80,962.00 15
INDUSTRIAL DIESEL, INC. $79,041.00 16
DIGITALMARKETS, INC. $70,804.00 17
SCOTTS STUFF INC $62,000.00 18
JUNCTION NATIONAL BANK $60,000.00 19
FORTRESS PROPERTIES LTD $58,016.00 20
PIERSON & FENDLEY, L.L.C. $56,698.00 21
MICHAEL M. KATZ, MD PA $54,000.00 22
ENERGYNET.COM, INC. $49,242.00 23
WALKER & SOLOMON AGENCY, INC. $48,854.00 24
BEN SPURGIN INSURANCE AGENCY $45,000.00 25
SDB TRADE INTERNATIONAL, LP $43,706.00 26
HEMATOLOGY ONCOLOGY ASSOCIATES OF HOUSTON, P.A. $41,751.00 27
INDUSTRIAL DIESEL MANUFACTURING & SERVICE LTD. $41,414.00 28
FERNANDO A. CASTANEDA, MD, PA $39,696.00 29
MASTERS CONSULTING LLC $36,710.00 30
D/G STUDIOS, INC. $34,364.00 31
ABC COIN SORTING COUNTING SUPPLY, INC. $30,991.00 32
TUMBLEWEED TRADERS, LLP, DBA WILD WEST HARLEY-DAVIDSON $27,925.00 33
MALCOLM R. BERG, DMD, PLLC $26,661.00 34
CRITICAL PATH STRATEGIES, INC. $25,824.00 35
STEVENS LOVE, PLLC $23,898.00 36
THE CAILLOUX FOUNDATION $22,678.00 37
D & D WINCO2 $22,500.00 38
TURNER DENNIS & NOACK PC $21,414.00 39
JACKSON DENTAL $20,540.00 40
ESTAFF LLC $20,460.00 41
BALDAUF HERRIN & ASSOCIATES, INC. $18,211.00 42
LEECO SPRING INTERNATIONAL $17,590.00 43
COLVIN, INC. $17,560.00 44
PLAINS ROOFING, INC. $14,523.00 45
BEECHEM EQUIPMENT, INC. $13,664.00 46
OURCO SUPPLY CORP $11,393.00 47
SEMINOLE PUBLIC SCHOOLS FEDERAL CREDIT UNION $11,355.00 48
NORWAY IRRIGATION, INC. $10,109.00 49
ICENOGLE & SULLIVAN PLLC $10,101.00 50
DONNA BROWN, P.C. $9,744.00 51
CRAFTCORPS, INC. $9,639.00 52
PAUL W. JOHN, M.D., P.A. $8,834.00 53
MEDICAL DENTAL HOSPITAL BUREAU OF SAN ANTONIO $8,440.00 54
ROBERT H FAIN JR MD PA $8,365.00 55
JOHNSON PUMPING, INC. $8,193.00 56
BAKER GLASS, INC. $7,754.00 57
AMCORP, INC. $6,668.00 58
LAW OFFICES OF JEFFREY R. SINGER, PC $6,510.00 59
LINDINGER INSPECTION ENGINEERS, INC. $5,343.00 60
AUTO WORLD GALLERIA INC $4,619.00 61
ELLEN W. LIN M.D., P.A. $4,075.00 62
REBECCA M. ROBERT, MD, PA $3,444.00 63
NEIGHBORHOOD HEALTH CARE SERVICES, INC. $3,190.00 64
SUNSET PROGRAMMING, INC. $3,030.00 65
ESTRIDGE & ASSOCIATES, INC. $1,723.00 66
ASSOCIATED SEMICONDUCTOR SUPPORT & ,EQUUPMENT TECHNOLOGY SOLUTIONS, IN $240.00 67
FRAM GROUP TEXAS, LLC $- 68
J O B E SERVICES INC $- 68
WELBOR TECHNOLOGY, INC. $- 68
SHEPHERD CONTROLS & ASSOCIATES, INC $- 68
VISUAL CNC, INC. $- 68
TOSC INTERNATIONAL, INC. $- 68
GTL USA INC. $- 68
JOSEPH K. LEVENO, M.D., P.A. $- 68
COMMERCIAL WASHING SYSTEMS, INC. $- 68
SUNSET BOULEVARD ANIMAL CLINIC, I, LTD $- 68
PERIODONTAL ASSOCIATES, P.C. $- 68
LUMBERTON FIRE & EMS INC. $- 68
M&M DESIGNS INC, INTERGRATED $- 68


Average Employee Contribution

In Texas, the average employee contribution to their benefits plan was $11,436.54, but the median was $5,104. The maximum was $96,058, and the minimum was $0. Some plans will contribute on the employee’s behalf without requiring a contribution from them.

Company Name Average employee contribution per contributing employee Rank of Employee Contribution Per Contributing Employee
XCHANGING SYSTEMS & SERVICES, INC. $96,057.60 1
CASH REGISTER SERVICES, INC. $58,129.60 2
1ST COMMUNITY FEDERAL CREDIT UNION $50,317.00 3
PEOPLES BANK $47,620.80 4
ALCUIN SCHOOL $43,842.20 5
POINTWISE, INC. $43,142.20 6
GAGE VAN HORN AND ASSOCIATES, INC. $32,466.60 7
SHEPHERD CONTROLS & ASSOCIATES, INC $21,873.20 8
ENERGYNET.COM, INC. $21,428.60 9
JACK OBOYLE & ASSOCIATES $20,018.00 10
CRITICAL PATH STRATEGIES, INC. $19,346.00 11
CRAFTCORPS, INC. $18,928.40 12
SPACE CENTER ORTHODONTICS $18,099.20 13
HEMATOLOGY ONCOLOGY ASSOCIATES OF HOUSTON, P.A. $17,603.00 14
ABC COIN SORTING COUNTING SUPPLY, INC. $15,568.00 15
D/G STUDIOS, INC. $15,052.20 16
MALCOLM R. BERG, DMD, PLLC $12,483.40 17
INDUSTRIAL DIESEL, INC. $12,371.60 18
TUMBLEWEED TRADERS, LLP, DBA WILD WEST HARLEY-DAVIDSON $12,190.20 19
JACKSON DENTAL $12,124.60 20
FIFTY FIVE, LLC $11,758.00 21
THF, L.L.C. $10,838.60 22
TURNER DENNIS & NOACK PC $10,601.60 23
AMCORP, INC. $10,534.20 24
WELBOR TECHNOLOGY, INC. $10,363.00 25
MEDICAL DENTAL HOSPITAL BUREAU OF SAN ANTONIO $10,228.20 26
COLVIN, INC. $9,800.00 27
SDB TRADE INTERNATIONAL, LP $9,461.20 28
BAKER GLASS, INC. $9,035.00 29
BEN SPURGIN INSURANCE AGENCY $8,609.80 30
CREED RICE COMPANY, INC. $8,050.00 31
ELLEN W. LIN M.D., P.A. $7,836.20 32
THE CAILLOUX FOUNDATION $7,831.20 33
BALDAUF HERRIN & ASSOCIATES, INC. $7,802.80 34
D & D WINCO2 $7,200.00 35
LEECO SPRING INTERNATIONAL $6,708.20 36
TOSC INTERNATIONAL, INC. $5,683.20 37
MASTERS CONSULTING LLC $5,464.00 38
WALKER & SOLOMON AGENCY, INC. $5,330.80 39
DONNA BROWN, P.C. $5,126.00 40
SEMINOLE PUBLIC SCHOOLS FEDERAL CREDIT UNION $5,082.80 41
PAUL W. JOHN, M.D., P.A. $4,980.00 42
NEIGHBORHOOD HEALTH CARE SERVICES, INC. $4,848.60 43
FRAM GROUP TEXAS, LLC $4,602.00 44
ROBERT H FAIN JR MD PA $4,548.20 45
LAW OFFICES OF JEFFREY R. SINGER, PC $4,295.00 46
JOHNSON PUMPING, INC. $4,138.80 47
INDUSTRIAL DIESEL MANUFACTURING & SERVICE LTD. $3,757.20 48
AUTO WORLD GALLERIA INC $3,660.20 49
LINDINGER INSPECTION ENGINEERS, INC. $3,541.40 50
FERNANDO A. CASTANEDA, MD, PA $3,500.00 51
NORWAY IRRIGATION, INC. $3,394.80 52
BEECHEM EQUIPMENT, INC. $3,265.00 53
PLAINS ROOFING, INC. $2,914.20 54
STEVENS LOVE, PLLC $2,776.20 55
ESTRIDGE & ASSOCIATES, INC. $2,710.00 56
ICENOGLE & SULLIVAN PLLC $2,020.20 57
ESTAFF LLC $1,908.00 58
JUNCTION NATIONAL BANK $1,824.00 59
GTL USA INC. $1,685.40 60
SUNSET PROGRAMMING, INC. $1,553.00 61
REBECCA M. ROBERT, MD, PA $1,051.00 62
OURCO SUPPLY CORP $739.00 63
LUMBERTON FIRE & EMS INC. $522.80 64
ASSOCIATED SEMICONDUCTOR SUPPORT & ,EQUUPMENT TECHNOLOGY SOLUTIONS, IN $60.00 65
J O B E SERVICES INC $- 66
SCOTTS STUFF INC $- 66
ELECTRACOM SUPPLY, INC. $- 66
CARDIAC PERFUSION SERVICES, INC. $- 66
VISUAL CNC, INC. $- 66
MICHAEL M. KATZ, MD PA $- 66
JOSEPH K. LEVENO, M.D., P.A. $- 66
COMMERCIAL WASHING SYSTEMS, INC. $- 66
SUNSET BOULEVARD ANIMAL CLINIC, I, LTD $- 66
DIGITALMARKETS, INC. $- 66
PERIODONTAL ASSOCIATES, P.C. $- 66
GRAPEVINE PEDIATRIC CLINIC, PA $- 66
PIERSON & FENDLEY, L.L.C. $- 66
M&M DESIGNS INC, INTERGRATED $- 66
FORTRESS PROPERTIES LTD $- 66


How does your plan compare to these numbers? If you’re a 401k plan administrator and you want to improve your performance against your peers or you want to improve your employee education programs, myFinancialAnswers can help.

About Jason Hull, CFP®

Jason Hull, CFP®, is the Chief Technology officer of myFinancialAnswers, an online comprehensive financial planning service.

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