Penske Truck Leasing Co., L.P. 401(k) Review & Grade
Penske Truck Leasing Co., L.P. Savings Retirement Plan
Reading, PATransportation & Warehousing17,240 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,799Employer $ per active participant
$3,892Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$1.3BNet plan assets, end of year
$99,408Average balance per account
Score breakdown
- Employer generosity28.9 / 5058th percentile for employer $ per participant
- Low cost22.6 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving7.3 / 1549th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Transportation & Warehousing plans with 10,000+ active participants (46 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 58th |
| Lower admin cost | 90th |
| Employee saving | 49th |
| Peers that auto-enroll | 30% |
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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 ($21,868 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Penske Truck Leasing Co., L.P. put in about $1,799 per active participant, more than the typical peer ($1,415). 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 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 | $31,007,579 |
| Participant (employee) contributions | $67,106,484 |
| Other contributions (incl. rollovers in) | $5,097,562 |
| Administrative expenses paid from the plan | $277,681 |
| Contract administrator fees | $277,681 |
| Benefits paid out | $136,044,425 |
| Net assets, start / end of year | $1.2B / $1.3B |
| Active participants, start / end of year | 17,512 / 16,969 |
| Participants with account balances | 13,540 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche Llpd |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $590,250 reported compensation |
| Mercer | $56,455 reported compensation |
| Deloitte and Touche, LLP | $46,200 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015213826NAL0005899089001, received 2025-10-15, EIN 23-2518618, plan #007, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.