Allan Myers, Inc. 401(k) Review & Grade
Allan Myers Hourly Retirement Plan
Worcester, PAConstruction1,469 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,802Employer $ per active participant
$3,912Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$158.2MNet plan assets, end of year
$82,467Average balance per account
Score breakdown
- Employer generosity45.1 / 5090th percentile for employer $ per participant
- Low cost17.1 / 2568th percentile for low admin cost vs. same-size plans
- Employee saving7.4 / 1549th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score80 / 100 · Grade A
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 90th |
| Lower admin cost | 68th |
| Employee saving | 49th |
| Peers that auto-enroll | 44% |
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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 Myers put in about $5,802 per active participant, more than the typical peer ($1,672). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $8,522,440 |
| Participant (employee) contributions | $5,746,773 |
| Other contributions (incl. rollovers in) | $15,593 |
| Administrative expenses paid from the plan | $194,516 |
| Other admin expenses | $194,516 |
| Benefits paid out | $25,468,606 |
| Net assets, start / end of year | $153.3M / $158.2M |
| Active participants, start / end of year | 1,463 / 1,475 |
| Participants with account balances | 1,918 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Kreischer Miller |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $106,223 reported compensation |
| Captrust Financial Advisors | $57,916 reported compensation |
| Vanguard Advisers Inc. | $40,387 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250723095912NAL0009910082001, received 2025-07-23, EIN 23-2966902, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.