Stephens Pipe and Steel, LLC 401(k) Review & Grade
Stephens Pipe and Steel 401(k) Plan
Russell Springs, KYManufacturing1,064 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,205Employer $ per active participant
$2,770Employee $ saved per active participant
0.75%Direct admin cost, % of plan assets
$20.6MNet plan assets, end of year
$20,600Average balance per account
Score breakdown
- Employer generosity11.3 / 5023th percentile for employer $ per participant
- Low cost2.8 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score24 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 11th |
| Employee saving | 20th |
| Peers that auto-enroll | 59% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $93,405 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Stephens Pipe and Steel put in about $1,205 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 (0.75% 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.
- 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 | $1,282,241 |
| Participant (employee) contributions | $2,947,143 |
| Other contributions (incl. rollovers in) | $65,585 |
| Administrative expenses paid from the plan | $137,792 |
| Contract administrator fees | $76,966 |
| Investment advisory & management fees | $60,826 |
| Benefits paid out | $1,458,719 |
| Net assets, start / end of year | $16.1M / $20.6M |
| Active participants, start / end of year | 1,058 / 1,070 |
| Participants with account balances | 1,000 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $76,966 reported compensation |
| Robert W. Baird & Co. Incorporated | $60,826 reported compensation |
| Nova 401(k) Associates | $24,334 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015074454NAL0005441040002, received 2025-10-15, EIN 26-2319757, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.