Clayco, Inc. 401(k) Review & Grade
Clayco, Inc. 401(k) Profit Sharing Plan
Chicago, ILConstruction2,114 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,100Employer $ per active participant
$11,027Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$242.2MNet plan assets, end of year
$82,422Average balance per account
Score breakdown
- Employer generosity46.9 / 5094th percentile for employer $ per participant
- Low cost12.8 / 2551th percentile for low admin cost vs. same-size plans
- Employee saving14.4 / 1596th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score81 / 100 · Grade A
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 51th |
| Employee saving | 96th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,169 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Clayco put in about $7,100 per active participant, more than the typical peer ($1,672). 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 | $15,006,509 |
| Participant (employee) contributions | $23,306,264 |
| Other contributions (incl. rollovers in) | $6,527,907 |
| Administrative expenses paid from the plan | $477,088 |
| Investment advisory & management fees | $262,953 |
| Benefits paid out | $18,192,496 |
| Net assets, start / end of year | $188.1M / $242.2M |
| Active participants, start / end of year | 1,994 / 2,233 |
| Participants with account balances | 2,939 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rubinbrown, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $214,135 reported compensation |
| Mesirow Financial Investment Manage | $177,954 reported compensation |
| Creative Planning Holdco LLC | $84,999 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015132044NAL0002356163001, received 2025-10-15, EIN 43-1339079, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.