Chaney Materials, LLC 401(k) Review & Grade
Chaney Enterprises Companies 401(k) Profit Sharing Plan
Annapolis, MDManufacturing684 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,599Employer $ per active participant
$5,299Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$70.1MNet plan assets, end of year
$81,171Average balance per account
Score breakdown
- Employer generosity35.1 / 5070th percentile for employer $ per participant
- Low cost11.5 / 2546th percentile for low admin cost vs. same-size plans
- Employee saving8.3 / 1556th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score55 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 70th |
| Lower admin cost | 46th |
| Employee saving | 56th |
| Peers that auto-enroll | 59% |
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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
- Chaney Materials put in about $3,599 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.
- 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 | $2,461,591 |
| Participant (employee) contributions | $3,624,685 |
| Other contributions (incl. rollovers in) | $408,758 |
| Administrative expenses paid from the plan | $181,671 |
| Contract administrator fees | $35,820 |
| Investment advisory & management fees | $35,000 |
| Other admin expenses | $3,775 |
| Benefits paid out | $14,448,304 |
| Net assets, start / end of year | $70.3M / $70.1M |
| Active participants, start / end of year | 738 / 630 |
| Participants with account balances | 864 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| John Hancock Life Insurance Company | $88,855 reported compensation |
| Coastal Pension Services | $35,820 reported compensation |
| RBC Capital Markets Corp. | $35,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015153418NAL0005294785001, received 2025-10-15, EIN 52-1702211, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.