Mid Continent Steel and Wire Inc 401(k) Review & Grade
Mid Continent Steel & Wire / Deacero USA Profit Sharing Plan
Poplar Bluff, MORetail Trade507 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$761Employer $ per active participant
$2,230Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$11.2MNet plan assets, end of year
$24,370Average balance per account
Score breakdown
- Employer generosity25.4 / 5051th percentile for employer $ per participant
- Low cost15.9 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving5.6 / 1537th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 64th |
| Employee saving | 37th |
| Peers that auto-enroll | 48% |
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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 ($56,448 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Mid Continent Steel and Wire put in about $761 per active participant, more than the typical peer ($743). 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 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 | $385,610 |
| Participant (employee) contributions | $1,130,721 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $16,001 |
| Contract administrator fees | $6,460 |
| Other admin expenses | $9,541 |
| Benefits paid out | $2,004,499 |
| Net assets, start / end of year | $10.5M / $11.2M |
| Active participants, start / end of year | 538 / 476 |
| Participants with account balances | 459 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Uhy LLP |
Largest service providers (Schedule C)
| Pension and Retirement Services LLC | $8,808 reported compensation |
| Krilogy Financial LLC | $7,801 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014160959NAL0006806882001, received 2025-10-14, EIN 43-1070592, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.