Illinois Central School Bus, LLC 401(k) Review & Grade
Illinois Central Companies 401(k) and Profit Sharing Plan
Joliet, ILTransportation & Warehousing3,520 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$174Employer $ per active participant
$517Employee $ saved per active participant
1.06%Direct admin cost, % of plan assets
$10.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity3.3 / 507th percentile for employer $ per participant
- Low cost1.0 / 254th percentile for low admin cost vs. same-size plans
- Employee saving0.6 / 154th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score8 / 100 · Grade F
This plan vs. peers
Peers: Transportation & Warehousing plans with 2,500–9,999 active participants (123 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 7th |
| Lower admin cost | 4th |
| Employee saving | 4th |
| Peers that auto-enroll | 46% |
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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
- Illinois Central School Bus put in about $174 per active participant, below the typical peer ($1,834). 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 (1.06% of assets) are well above similar-size plans (0.12%). 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 | $611,719 |
| Participant (employee) contributions | $1,817,961 |
| Other contributions (incl. rollovers in) | $47,010 |
| Administrative expenses paid from the plan | $106,560 |
| Contract administrator fees | $86,576 |
| Investment advisory & management fees | $19,984 |
| Benefits paid out | $1,894,264 |
| Net assets, start / end of year | $9.2M / $10.8M |
| Active participants, start / end of year | 3,803 / 3,236 |
| Participants with account balances | 748 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RSM Up LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $86,576 reported compensation |
| Creative Planning, LLC | $20,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260203165109NAL0004343266001, received 2026-02-03, EIN 20-0991676, plan #001, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.