Branding Iron Holdings 401(k) Review & Grade
Branding Iron Holdings Retirement Savings Plan
Rochester, MNManufacturing673 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,884Employer $ per active participant
$3,540Employee $ saved per active participant
0.38%Direct admin cost, % of plan assets
$34.1MNet plan assets, end of year
$48,861Average balance per account
Score breakdown
- Employer generosity20.2 / 5040th percentile for employer $ per participant
- Low cost8.1 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving4.6 / 1530th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 40th |
| Lower admin cost | 33th |
| Employee saving | 30th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($28 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $45,286 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Branding Iron Holdings put in about $1,884 per active participant, below the typical peer ($2,320). 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 (0.38% 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.
- 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 | $1,268,126 |
| Participant (employee) contributions | $2,382,649 |
| Other contributions (incl. rollovers in) | $33,303 |
| Administrative expenses paid from the plan | $126,759 |
| Contract administrator fees | $80,102 |
| Investment advisory & management fees | $46,657 |
| Benefits paid out | $7,093,501 |
| Net assets, start / end of year | $33.1M / $34.1M |
| Active participants, start / end of year | 711 / 635 |
| Participants with account balances | 698 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rubinbrown LLP |
Largest service providers (Schedule C)
| Stancorp Financial Group | $116,347 reported compensation |
| Sikich Capital Management | $46,657 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015135038NAL0002397203001, received 2025-10-15, EIN 26-0648944, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.