Saltchuk Resources, Inc. 401(k) Review & Grade
Saltchuk Companies 401(k) Plan
Seattle, WAManagement of Companies6,039 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,739Employer $ per active participant
$6,269Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$669.8MNet plan assets, end of year
$100,569Average balance per account
Score breakdown
- Employer generosity27.1 / 5054th percentile for employer $ per participant
- Low cost16.0 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving7.4 / 1549th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Management of Companies plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 64th |
| Employee saving | 49th |
| Peers that auto-enroll | 58% |
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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 ($53,644 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $26,540 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Saltchuk Resources put in about $3,739 per active participant, more than the typical peer ($3,455). 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 | $22,579,505 |
| Participant (employee) contributions | $37,859,355 |
| Other contributions (incl. rollovers in) | $11,671,199 |
| Administrative expenses paid from the plan | $509,826 |
| Contract administrator fees | $2,100 |
| Investment advisory & management fees | $141,214 |
| Benefits paid out | $72,403,801 |
| Net assets, start / end of year | $598.5M / $669.8M |
| Active participants, start / end of year | 5,912 / 6,166 |
| Participants with account balances | 6,660 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clark Nuber, PS |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $368,949 reported compensation |
| Strategic Advisors, Inc. | $141,214 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014170500NAL0004611776001, received 2025-10-14, EIN 91-1186367, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.