Ken Ganley Companies 401(k) Review & Grade
Ken Ganley Companies Retirement Savings Plan
Broadview, OHRetail Trade1,675 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$398Employer $ per active participant
$3,429Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$54.0MNet plan assets, end of year
$47,201Average balance per account
Score breakdown
- Employer generosity15.2 / 5030th percentile for employer $ per participant
- Low cost13.1 / 2552th percentile for low admin cost vs. same-size plans
- Employee saving8.7 / 1558th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 30th |
| Lower admin cost | 52th |
| Employee saving | 58th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,528 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ken Ganley Companies put in about $398 per active participant, below the typical peer ($743). 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 | $667,338 |
| Participant (employee) contributions | $5,742,917 |
| Other contributions (incl. rollovers in) | $394,100 |
| Administrative expenses paid from the plan | $105,535 |
| Investment advisory & management fees | $57,200 |
| Benefits paid out | $6,938,164 |
| Net assets, start / end of year | $46.0M / $54.0M |
| Active participants, start / end of year | 1,451 / 1,899 |
| Participants with account balances | 1,143 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Holbrook & Manter Inc |
Largest service providers (Schedule C)
| Ancora Retirement Plan Advisors, in | $57,200 reported compensation |
| Adp, Inc. | $50,443 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $16,646 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014061038NAL0004776162001, received 2025-10-14, EIN 34-1547327, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.