Gerdau Ameristeel US Inc. 401(k) Review & Grade
Gerdau Ameristeel US 401(k) Retirement Plan
Tampa, FLManufacturing3,414 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,690Employer $ per active participant
$8,028Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$746.1MNet plan assets, end of year
$164,523Average balance per account
Score breakdown
- Employer generosity37.8 / 5076th percentile for employer $ per participant
- Low cost14.6 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving10.2 / 1568th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 58th |
| Employee saving | 68th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $872 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Gerdau Ameristeel US put in about $5,690 per active participant, more than the typical peer ($3,452). 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 | $19,426,833 |
| Participant (employee) contributions | $27,412,706 |
| Other contributions (incl. rollovers in) | $7,661,840 |
| Administrative expenses paid from the plan | $687,463 |
| Investment advisory & management fees | $705,589 |
| Other admin expenses | $948 |
| Benefits paid out | $92,844,006 |
| Net assets, start / end of year | $678.1M / $746.1M |
| Active participants, start / end of year | 3,321 / 3,508 |
| Participants with account balances | 4,535 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| Financial Engines | $535,689 reported compensation |
| Logos | $94,250 reported compensation |
| Merrill Lynch | $75,650 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008143918NAL0003365379001, received 2025-10-08, EIN 59-0792436, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.