Knife River Corporation 401(k) Review & Grade
Knife River Corporation 401(k) Retirement Plan
Bismarck, NDConstruction5,436 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,189Employer $ per active participant
$7,126Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$856.4MNet plan assets, end of year
$121,096Average balance per account
Score breakdown
- Employer generosity44.0 / 5088th percentile for employer $ per participant
- Low cost14.0 / 2556th percentile for low admin cost vs. same-size plans
- Employee saving10.6 / 1571th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Construction plans with 2,500–9,999 active participants (76 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 56th |
| Employee saving | 71th |
| Peers that auto-enroll | 57% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($343 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $10,494 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Knife River put in about $6,189 per active participant, more than the typical peer ($1,965). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $33,646,037 |
| Participant (employee) contributions | $38,740,070 |
| Other contributions (incl. rollovers in) | $5,017,284 |
| Administrative expenses paid from the plan | $834,030 |
| Contract administrator fees | $563,826 |
| Investment advisory & management fees | $194,626 |
| Other admin expenses | −$43 |
| Benefits paid out | $89,664,302 |
| Net assets, start / end of year | $741.2M / $856.4M |
| Active participants, start / end of year | 5,327 / 5,546 |
| Participants with account balances | 7,072 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton LLP |
| Employer stock held by plan | $89,044,385 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $582,329 reported compensation |
| Edelman Financial Engines, LLC | $137,562 reported compensation |
| Grant Thornton LLP | $75,650 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250701100903NAL0012573857001, received 2025-07-01, EIN 92-1008893, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.