Beelman Truck Company 401(k) Review & Grade
Beelman 401k Profit Sharing Plan and Trust
East ST. Louis, ILTransportation & Warehousing972 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,377Employer $ per active participant
$4,474Employee $ saved per active participant
0.58%Direct admin cost, % of plan assets
$45.1MNet plan assets, end of year
$36,608Average balance per account
Score breakdown
- Employer generosity38.2 / 5076th percentile for employer $ per participant
- Low cost4.6 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving10.5 / 1570th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 18th |
| Employee saving | 70th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $16,657 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Beelman Truck put in about $2,377 per active participant, more than the typical peer ($1,070). 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.
- Direct plan expenses (0.58% 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.
- 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 | $2,309,066 |
| Participant (employee) contributions | $4,346,569 |
| Other contributions (incl. rollovers in) | $354,180 |
| Administrative expenses paid from the plan | $244,219 |
| Contract administrator fees | $244,219 |
| Benefits paid out | $5,678,342 |
| Net assets, start / end of year | $38.9M / $45.1M |
| Active participants, start / end of year | 980 / 963 |
| Participants with account balances | 1,231 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Stanley, Dirnberger, Hopper & Assoc |
Largest service providers (Schedule C)
| Wealth Advisory Services, LLC | $31,629 reported compensation |
| Global Retirement Partners, LLC | $30,691 reported compensation |
| Ascensus C/o Futureplan | $19,820 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015101731NAL0005930384001, received 2025-10-15, EIN 37-1047673, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.