Erie Construction Mid-West, Inc. 401(k) Review & Grade
Erie Construction Mid-West, Inc. 401(k) Retirement Plan
Toledo, OHConstruction1,082 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$350Employer $ per active participant
$2,232Employee $ saved per active participant
0.80%Direct admin cost, % of plan assets
$12.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.0 / 5012th percentile for employer $ per participant
- Low cost2.5 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving3.7 / 1525th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 10th |
| Employee saving | 25th |
| Peers that auto-enroll | 44% |
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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Erie Construction Mid-West put in about $350 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.
- Direct plan expenses (0.80% 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.
- 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 | $378,681 |
| Participant (employee) contributions | $2,414,189 |
| Other contributions (incl. rollovers in) | $299,053 |
| Administrative expenses paid from the plan | $87,061 |
| Investment advisory & management fees | $28,453 |
| Benefits paid out | $2,101,468 |
| Net assets, start / end of year | $9.7M / $12.1M |
| Active participants, start / end of year | 1,087 / 1,076 |
| Participants with account balances | 390 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $58,608 reported compensation |
| Creative Planning LLC | $36,201 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008093906NAL0002895459001, received 2025-10-08, EIN 34-1712631, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.