Transcat, Inc. 401(k) Review & Grade
Transcat, Inc. Long-Term Savings and Deferred PS Plan
Rochester, NYWholesale Trade964 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,931Employer $ per active participant
$5,231Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$60.5MNet plan assets, end of year
$48,986Average balance per account
Score breakdown
- Employer generosity27.1 / 5054th percentile for employer $ per participant
- Low cost23.7 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving8.8 / 1559th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 95th |
| Employee saving | 59th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $22,404 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Transcat put in about $1,931 per active participant, more than the typical peer ($1,792). 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 | $1,862,857 |
| Participant (employee) contributions | $5,045,058 |
| Other contributions (incl. rollovers in) | $1,046,581 |
| Administrative expenses paid from the plan | $13,025 |
| Benefits paid out | $7,003,528 |
| Net assets, start / end of year | $53.1M / $60.5M |
| Active participants, start / end of year | 948 / 981 |
| Participants with account balances | 1,235 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bonadio & Co., LLP |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $13,025 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013132800NAL0002050688001, received 2025-10-13, EIN 16-0874418, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.