Elwood Staffing Services, Inc. 401(k) Review & Grade
Elwood Staffing Services, Inc. 401(k) Retirement Plan
Columbus, INAdministrative, Support & Staffing Services13,438 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$112Employer $ per active participant
$254Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$35.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity21.9 / 5044th percentile for employer $ per participant
- Low cost1.8 / 257th percentile for low admin cost vs. same-size plans
- Employee saving1.9 / 1512th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score19 / 100 · Grade F
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 10,000+ active participants (33 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 7th |
| Employee saving | 12th |
| Peers that auto-enroll | 36% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($5,033 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Elwood Staffing Services put in about $112 per active participant, below the typical peer ($271). 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 (0.36% of assets) are well above similar-size plans (0.09%). 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 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 | $1,509,843 |
| Participant (employee) contributions | $3,412,534 |
| Other contributions (incl. rollovers in) | $1,402,190 |
| Administrative expenses paid from the plan | $113,439 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $36,000 |
| Benefits paid out | $3,258,391 |
| Net assets, start / end of year | $28.3M / $35.0M |
| Active participants, start / end of year | 13,875 / 13,000 |
| Participants with account balances | 1,209 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Blue & Co, LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $77,439 reported compensation |
| Shepherd Financial Investment | $36,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250815144700NAL0010504097001, received 2025-08-15, EIN 35-1984435, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.