Iowa 80 Group, Inc. 401(k) Review & Grade
Iowa 80 Group, Inc. 401(k) Plan
Walcott, IAWholesale Trade702 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$905Employer $ per active participant
$2,843Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$46.3MNet plan assets, end of year
$96,473Average balance per account
Score breakdown
- Employer generosity10.2 / 5020th percentile for employer $ per participant
- Low cost13.7 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 55th |
| Employee saving | 20th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $145,924 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Iowa 80 Group put in about $905 per active participant, below the typical peer ($1,792). 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.
- 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 | $634,646 |
| Participant (employee) contributions | $1,994,321 |
| Other contributions (incl. rollovers in) | $32,299 |
| Administrative expenses paid from the plan | $87,128 |
| Contract administrator fees | $87,128 |
| Benefits paid out | $3,928,111 |
| Net assets, start / end of year | $41.9M / $46.3M |
| Active participants, start / end of year | 703 / 700 |
| Participants with account balances | 480 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Anderson Lower Whitlow PC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $87,127 reported compensation |
| Wilshire Advisors LLC | $0 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250724140122NAL0002761667001, received 2025-07-24, EIN 42-0919645, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.