Alro Steel Corporation 401(k) Review & Grade
Alro Steel Corporation and Subsidiaries Retirement/401(k) Plan
Jackson, MIWholesale Trade3,046 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,326Employer $ per active participant
$6,098Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$512.8MNet plan assets, end of year
$98,234Average balance per account
Score breakdown
- Employer generosity47.1 / 5094th percentile for employer $ per participant
- Low cost13.5 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving9.4 / 1563th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score80 / 100 · Grade A
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 54th |
| Employee saving | 63th |
| Peers that auto-enroll | 62% |
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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
- Alro Steel put in about $7,326 per active participant, more than the typical peer ($2,459). 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 | $22,318,977 |
| Participant (employee) contributions | $18,577,915 |
| Other contributions (incl. rollovers in) | $1,094,071 |
| Administrative expenses paid from the plan | $538,671 |
| Contract administrator fees | $528,898 |
| Other admin expenses | $9,773 |
| Benefits paid out | $43,092,242 |
| Net assets, start / end of year | $470.1M / $512.8M |
| Active participants, start / end of year | 3,087 / 3,006 |
| Participants with account balances | 5,220 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| John Hancock | $528,898 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251121153030NAL0003747811001, received 2025-11-21, EIN 38-1300597, plan #001, plan year 2024-06-01 to 2025-05-31. Verify at efast.dol.gov.