Joseph T. Ryerson & Son, Inc. 401(k) Review & Grade
Ryerson Savings Plan
Chicago, ILManufacturing2,752 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,448Employer $ per active participant
$6,298Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$461.9MNet plan assets, end of year
$128,743Average balance per account
Score breakdown
- Employer generosity24.9 / 5050th percentile for employer $ per participant
- Low cost21.0 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving7.9 / 1552th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 84th |
| Employee saving | 52th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($1,463 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $56 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Joseph T. Ryerson & Son put in about $3,448 per active participant, below the typical peer ($3,452). 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.
- 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 | $9,490,183 |
| Participant (employee) contributions | $17,331,863 |
| Other contributions (incl. rollovers in) | $2,844,875 |
| Administrative expenses paid from the plan | $177,482 |
| Contract administrator fees | $5,250 |
| Benefits paid out | $49,106,204 |
| Net assets, start / end of year | $427.6M / $461.9M |
| Active participants, start / end of year | 2,758 / 2,746 |
| Participants with account balances | 3,588 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $177,482 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915124335NAL0000726067001, received 2025-09-15, EIN 36-1717960, plan #334, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.