Rosenboom Machine & Tool Inc 401(k) Review & Grade
Rosenboom Machine & Tool Inc Retirement Plan & Trust
Sheldon, IAManufacturing742 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$721Employer $ per active participant
$2,848Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$38.1MNet plan assets, end of year
$54,673Average balance per account
Score breakdown
- Employer generosity5.4 / 5011th percentile for employer $ per participant
- Low cost8.5 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving3.1 / 1521th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score17 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 11th |
| Lower admin cost | 34th |
| Employee saving | 21th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $33,222 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Rosenboom Machine & Tool put in about $721 per active participant, below the typical peer ($2,320). 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.
- Direct plan expenses (0.36% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $534,667 |
| Participant (employee) contributions | $2,113,191 |
| Other contributions (incl. rollovers in) | $664 |
| Administrative expenses paid from the plan | $129,280 |
| Investment advisory & management fees | $118,398 |
| Benefits paid out | $2,270,295 |
| Net assets, start / end of year | $33.6M / $38.1M |
| Active participants, start / end of year | 756 / 728 |
| Participants with account balances | 696 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Security National Bank | $118,398 reported compensation |
| Charles Schwab Trust Bank | $10,882 reported compensation |
| Charles Schwab & Co Inc | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013094507NAL0000454371007, received 2025-10-13, EIN 42-1258906, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.