Astec Industries, Inc. 401(k) Review & Grade
Astec Industries, Inc. 401(k) Retirement Plan
Chattanooga, TNManufacturing3,316 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,931Employer $ per active participant
$7,154Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$350.1MNet plan assets, end of year
$85,591Average balance per account
Score breakdown
- Employer generosity21.3 / 5043th percentile for employer $ per participant
- Low cost8.2 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving9.3 / 1562th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 33th |
| Employee saving | 62th |
| Peers that auto-enroll | 70% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($335 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $22,309 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Astec Industries put in about $2,931 per active participant, below the typical peer ($3,452). 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 (0.21% of assets) are well above similar-size plans (0.12%). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $9,719,095 |
| Participant (employee) contributions | $23,723,360 |
| Other contributions (incl. rollovers in) | $1,565,925 |
| Administrative expenses paid from the plan | $707,997 |
| Investment advisory & management fees | $327,920 |
| Other admin expenses | $1,200 |
| Benefits paid out | $46,200,727 |
| Net assets, start / end of year | $317.9M / $350.1M |
| Active participants, start / end of year | 3,459 / 3,173 |
| Participants with account balances | 4,090 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lbmc,pc |
| Employer stock held by plan | $2,005,237 |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $378,903 reported compensation |
| Empower Advisory Group, LLC | $327,920 reported compensation |
| Osaic Wealth Inc | $54,984 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250814131534NAL0022132162001, received 2025-08-14, EIN 62-0873631, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.