Daniel G. Schuster, LLC 401(k) Review & Grade
Daniel G. Schuster LLC 401(k) Salary Reduction Plan
Owings Mills, MDConstruction1,372 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$446Employer $ per active participant
$1,462Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$40.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.4 / 5015th percentile for employer $ per participant
- Low cost11.7 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 47th |
| Employee saving | 14th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,323 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Daniel G. Schuster put in about $446 per active participant, below the typical peer ($1,672). 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.
- 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.
- 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 | $611,887 |
| Participant (employee) contributions | $2,004,642 |
| Other contributions (incl. rollovers in) | $103,030 |
| Administrative expenses paid from the plan | $97,586 |
| Benefits paid out | $2,798,348 |
| Net assets, start / end of year | $37.0M / $40.1M |
| Active participants, start / end of year | 1,477 / 1,266 |
| Participants with account balances | 429 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Uhy LLP |
Largest service providers (Schedule C)
| Strategic Wealth Management | $48,842 reported compensation |
| Alerus Financial NA | $30,306 reported compensation |
| Adp, Inc. | $10,220 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260213161838NAL0001771571001, received 2026-02-13, EIN 52-1042778, plan #001, plan year 2024-05-01 to 2025-04-30. Verify at efast.dol.gov.