Ferrous Processing and Trading Company 401(k) Review & Grade
Ferrous Processing and Trading Company Savings Profit Sharing Plan
Cleveland, OHMining, Oil & Gas595 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,106Employer $ per active participant
$5,108Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$46.5MNet plan assets, end of year
$80,254Average balance per account
Score breakdown
- Employer generosity10.5 / 5021th percentile for employer $ per participant
- Low cost22.9 / 2592th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1527th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 21th |
| Lower admin cost | 92th |
| Employee saving | 27th |
| Peers that auto-enroll | 60% |
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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
- Ferrous Processing and Trading put in about $2,106 per active participant, below the typical peer ($4,357). 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.
- 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 | $1,253,156 |
| Participant (employee) contributions | $3,039,250 |
| Other contributions (incl. rollovers in) | $13,997 |
| Administrative expenses paid from the plan | $16,453 |
| Investment advisory & management fees | $12,245 |
| Benefits paid out | $2,415,283 |
| Net assets, start / end of year | – / $46.5M |
| Active participants, start / end of year | 622 / 568 |
| Participants with account balances | 580 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Meaden & Moore, LTD. |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $10,732 reported compensation |
| Fidelity Inv Inst Op Co, LLC | $1,568 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013172541NAL0000858755003, received 2025-10-13, EIN 38-1716484, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.