Gerdau Macsteel, Inc. 401(k) Review & Grade
Gerdau Macsteel Savings Plan
Jackson, MIManufacturing537 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,447Employer $ per active participant
$8,289Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$112.9MNet plan assets, end of year
$155,102Average balance per account
Score breakdown
- Employer generosity42.8 / 5086th percentile for employer $ per participant
- Low cost20.9 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving12.3 / 1582th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score76 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 86th |
| Lower admin cost | 84th |
| Employee saving | 82th |
| Peers that auto-enroll | 59% |
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
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Gerdau Macsteel put in about $5,447 per active participant, more than the typical peer ($2,320). 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 | $2,924,961 |
| Participant (employee) contributions | $4,451,281 |
| Other contributions (incl. rollovers in) | $1,976,488 |
| Administrative expenses paid from the plan | $65,188 |
| Contract administrator fees | $750 |
| Investment advisory & management fees | $67,163 |
| Other admin expenses | $12,975 |
| Benefits paid out | $10,588,421 |
| Net assets, start / end of year | $96.7M / $112.9M |
| Active participants, start / end of year | 505 / 569 |
| Participants with account balances | 728 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| Financial Engines | $67,163 reported compensation |
| Merrill Lynch | $6,975 reported compensation |
| Logos | $6,750 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008143214NAL0003361427001, received 2025-10-08, EIN 38-1872178, plan #012, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.