Central States, Se & SW Areas Health & Pension Funds 401(k) Review & Grade
Central States 401(k) Retirement Savings Plan
Chicago, ILFinance & Insurance717 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,792Employer $ per active participant
$9,366Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$140.2MNet plan assets, end of year
$159,857Average balance per account
Score breakdown
- Employer generosity26.4 / 5053th percentile for employer $ per participant
- Low cost24.0 / 2596th percentile for low admin cost vs. same-size plans
- Employee saving10.7 / 1572th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 53th |
| Lower admin cost | 96th |
| Employee saving | 72th |
| 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
- Central States, Se & SW Areas Health & Pension Funds put in about $3,792 per active participant, more than the typical peer ($3,606). 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 | $2,718,715 |
| Participant (employee) contributions | $6,715,474 |
| Other contributions (incl. rollovers in) | $924,788 |
| Administrative expenses paid from the plan | $24,109 |
| Investment advisory & management fees | $16,291 |
| Benefits paid out | $9,160,663 |
| Net assets, start / end of year | $122.2M / $140.2M |
| Active participants, start / end of year | 704 / 730 |
| Participants with account balances | 877 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Withumsmith+brown,pc |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $24,109 reported compensation |
| Charles Schwab & Co.,inc | $651 reported compensation |
| Charles Schwab Trust Bank | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009120329NAL0003889475001, received 2025-10-09, EIN 36-2154936, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.