Loram 401(k) Review & Grade
Loram Retirement Plan
Hamel, MNTransportation & Warehousing1,091 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,891Employer $ per active participant
$7,413Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$167.8MNet plan assets, end of year
$108,455Average balance per account
Score breakdown
- Employer generosity48.8 / 5098th percentile for employer $ per participant
- Low cost17.3 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score76 / 100 · Grade A
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 98th |
| Lower admin cost | 69th |
| Employee saving | 88th |
| Peers that auto-enroll | 37% |
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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 ($220,130 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $478 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Loram put in about $7,891 per active participant, more than the typical peer ($1,070). 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 | $8,608,838 |
| Participant (employee) contributions | $8,087,317 |
| Other contributions (incl. rollovers in) | $2,100,099 |
| Administrative expenses paid from the plan | $192,423 |
| Contract administrator fees | $1,800 |
| Investment advisory & management fees | $96,118 |
| Benefits paid out | $18,675,837 |
| Net assets, start / end of year | $147.7M / $167.8M |
| Active participants, start / end of year | 1,100 / 1,082 |
| Participants with account balances | 1,547 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $78,233 reported compensation |
| Strategic Advisors, Inc. | $50,443 reported compensation |
| Mma Securities | $45,675 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009105748NAL0006867713001, received 2025-10-09, EIN 41-0950401, plan #316, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.