Exel Inc. 401(k) Review & Grade
Supply Chain Retirement Savings Plan
Westerville, OHTransportation & Warehousing36,032 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,346Employer $ per active participant
$1,969Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$1.2BNet plan assets, end of year
$64,092Average balance per account
Score breakdown
- Employer generosity23.3 / 5047th percentile for employer $ per participant
- Low cost14.5 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score31 / 100 · Grade D
This plan vs. peers
Peers: Transportation & Warehousing plans with 10,000+ active participants (46 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 58th |
| Employee saving | 20th |
| Peers that auto-enroll | 30% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $25,558 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Exel put in about $1,346 per active participant, below the typical peer ($1,415). 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 | $48,516,468 |
| Participant (employee) contributions | $70,939,071 |
| Other contributions (incl. rollovers in) | $7,390,740 |
| Administrative expenses paid from the plan | $796,666 |
| Contract administrator fees | $2,400 |
| Benefits paid out | $119,957,811 |
| Net assets, start / end of year | $1.0B / $1.2B |
| Active participants, start / end of year | 36,474 / 35,590 |
| Participants with account balances | 18,947 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clark, Schaefer, Hackett & Co. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $796,666 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007085113NAL0002524035001, received 2025-10-07, EIN 04-2801160, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.