Iron Senergy, LLC 401(k) Review & Grade
401(k) Plan for Umwa Represented Employees of Iron Senergy
Louisville, KYMining, Oil & Gas518 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,214Employer $ per active participant
$4,347Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$40.8MNet plan assets, end of year
$74,671Average balance per account
Score breakdown
- Employer generosity23.8 / 5048th percentile for employer $ per participant
- Low cost22.3 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving3.2 / 1521th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 48th |
| Lower admin cost | 89th |
| Employee saving | 21th |
| Peers that auto-enroll | 60% |
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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
- Iron Senergy put in about $4,214 per active participant, below the typical peer ($4,357). 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.
- 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 | $2,180,953 |
| Participant (employee) contributions | $2,249,612 |
| Other contributions (incl. rollovers in) | $6,510 |
| Administrative expenses paid from the plan | $17,025 |
| Other admin expenses | $17,025 |
| Benefits paid out | $5,295,016 |
| Net assets, start / end of year | $36.9M / $40.8M |
| Active participants, start / end of year | 556 / 479 |
| Participants with account balances | 546 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Coulter & Justus, P.C. |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $17,050 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250808172949NAL0002731059001, received 2025-08-08, EIN 85-2328662, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.