Salado Isolation Mining Contractors, LLC 401(k) Review & Grade
Waste Isolation Pilot Plant Savings Plan
Carlsbad, NMAdministrative, Support & Staffing Services1,107 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,945Employer $ per active participant
$9,517Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$150.6MNet plan assets, end of year
$118,831Average balance per account
Score breakdown
- Employer generosity44.4 / 5089th percentile for employer $ per participant
- Low cost16.4 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving14.2 / 1594th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score85 / 100 · Grade A
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 89th |
| Lower admin cost | 65th |
| Employee saving | 94th |
| Peers that auto-enroll | 27% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Salado Isolation Mining Contractors put in about $2,945 per active participant, more than the typical peer ($712). 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 | $3,260,435 |
| Participant (employee) contributions | $10,535,332 |
| Other contributions (incl. rollovers in) | $558,306 |
| Administrative expenses paid from the plan | $200,392 |
| Contract administrator fees | $200,392 |
| Benefits paid out | $18,766,715 |
| Net assets, start / end of year | $138.0M / $150.6M |
| Active participants, start / end of year | 1,077 / 1,137 |
| Participants with account balances | 1,267 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailly LLP |
Largest service providers (Schedule C)
| Alston & Bird LLP | $81,210 reported compensation |
| Mercer | $67,625 reported compensation |
| Eide Bailly LLP | $21,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015135350NAL0006314272005, received 2025-10-15, EIN 82-4745477, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.