Zekelman Industries (formerly JMC Steel) 401(k) Review & Grade
Zekelman Industries Employees 401(k) and Pension Plan
Chicago, ILManufacturing1,966 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,328Employer $ per active participant
$5,475Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$223.4MNet plan assets, end of year
$91,464Average balance per account
Score breakdown
- Employer generosity42.3 / 5085th percentile for employer $ per participant
- Low cost21.1 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving8.7 / 1558th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 84th |
| Employee saving | 58th |
| Peers that auto-enroll | 59% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($23,209 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Zekelman Industries (formerly JMC Steel) put in about $5,328 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.
- 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 | $10,471,370 |
| Participant (employee) contributions | $10,761,968 |
| Other contributions (incl. rollovers in) | $1,696,419 |
| Administrative expenses paid from the plan | $127,983 |
| Investment advisory & management fees | $16,397 |
| Other admin expenses | $89,929 |
| Benefits paid out | $35,859,889 |
| Net assets, start / end of year | $207.4M / $223.4M |
| Active participants, start / end of year | 1,805 / 2,126 |
| Participants with account balances | 2,442 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Highland Consulting Associates, Inc | $89,929 reported compensation |
| Cbiz Cpas, P.C. | $18,400 reported compensation |
| Strategic Advisors, Inc. | $16,397 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013172051NAL0002469344001, received 2025-10-13, EIN 23-1327437, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.