Allan Industries, Inc. 401(k) Review & Grade
Allan Industries, Inc. 401(k) Profit Sharing
Rockaway, NJAdministrative, Support & Staffing Services941 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$261Employer $ per active participant
$577Employee $ saved per active participant
0.74%Direct admin cost, % of plan assets
$14.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity16.1 / 5032th percentile for employer $ per participant
- Low cost2.9 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving3.3 / 1522th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score25 / 100 · Grade F
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 12th |
| Employee saving | 22th |
| Peers that auto-enroll | 27% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Allan Industries put in about $261 per active participant, below the typical peer ($712). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.74% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $245,132 |
| Participant (employee) contributions | $543,133 |
| Other contributions (incl. rollovers in) | $5,845 |
| Administrative expenses paid from the plan | $98,383 |
| Contract administrator fees | $53,808 |
| Investment advisory & management fees | $44,575 |
| Benefits paid out | $551,415 |
| Net assets, start / end of year | $12.1M / $14.4M |
| Active participants, start / end of year | 810 / 1,072 |
| Participants with account balances | 107 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Nisivoccia LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $54,308 reported compensation |
| Kestra Private Wealth Services, LLC | $44,578 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001143901NAL0021142258001, received 2025-10-01, EIN 22-2647098, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.