Shelbyville Laundry Inc. 401(k) Review & Grade
Shelbyville Laundry Inc. 401(k) Profit Sharing Plan & Trust
Shelbyville, KYOther Services1,490 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$675Employer $ per active participant
$1,276Employee $ saved per active participant
0.64%Direct admin cost, % of plan assets
$19.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity17.0 / 5034th percentile for employer $ per participant
- Low cost3.9 / 2516th percentile for low admin cost vs. same-size plans
- Employee saving4.6 / 1530th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 16th |
| Employee saving | 30th |
| Peers that auto-enroll | 40% |
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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
- Shelbyville Laundry put in about $675 per active participant, below the typical peer ($1,257). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- Direct plan expenses (0.64% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $1,005,526 |
| Participant (employee) contributions | $1,900,732 |
| Other contributions (incl. rollovers in) | $43,093 |
| Administrative expenses paid from the plan | $117,747 |
| Benefits paid out | $2,414,869 |
| Net assets, start / end of year | $17.3M / $19.8M |
| Active participants, start / end of year | 1,564 / 1,415 |
| Participants with account balances | 624 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deming Malone Livesay and Ostrof |
Largest service providers (Schedule C)
| Adp, Inc. | $117,747 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014061142NAL0003281168001, received 2025-10-14, EIN 61-0567103, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.