North American Stainless 401(k) Review & Grade
North American Stainless Savings Plan
Ghent, KYManufacturing1,616 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,072Employer $ per active participant
$10,011Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$334.8MNet plan assets, end of year
$175,759Average balance per account
Score breakdown
- Employer generosity41.6 / 5083th percentile for employer $ per participant
- Low cost23.1 / 2593th percentile for low admin cost vs. same-size plans
- Employee saving13.4 / 1590th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score85 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 93th |
| Employee saving | 90th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $199 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- North American Stainless put in about $5,072 per active participant, more than the typical peer ($2,320). 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.
- 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 | $8,196,233 |
| Participant (employee) contributions | $16,177,379 |
| Other contributions (incl. rollovers in) | $261,426 |
| Administrative expenses paid from the plan | $97,193 |
| Contract administrator fees | $49,102 |
| Investment advisory & management fees | $48,091 |
| Benefits paid out | $15,827,800 |
| Net assets, start / end of year | $286.2M / $334.8M |
| Active participants, start / end of year | 1,581 / 1,651 |
| Participants with account balances | 1,905 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Barnes Dennig and Company LTD |
Largest service providers (Schedule C)
| John Hancock Retirement Plan Svcs | $82,694 reported compensation |
| Barnes, Dennig & Co., LTD | $14,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014072759NAL0004948082001, received 2025-10-14, EIN 61-1283966, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.