Tarter Gate Co., LLC 401(k) Review & Grade
Tarter Gate Company 401(k) Plan
Dunnville, KYManufacturing816 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$387Employer $ per active participant
$1,001Employee $ saved per active participant
0.54%Direct admin cost, % of plan assets
$10.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity2.6 / 505th percentile for employer $ per participant
- Low cost5.2 / 2521th percentile for low admin cost vs. same-size plans
- Employee saving0.5 / 153th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score5 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 5th |
| Lower admin cost | 21th |
| Employee saving | 3th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $48,795 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Tarter Gate Co. put in about $387 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 (0.54% 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 | $315,436 |
| Participant (employee) contributions | $816,332 |
| Other contributions (incl. rollovers in) | $160,294 |
| Administrative expenses paid from the plan | $59,817 |
| Contract administrator fees | $12,552 |
| Investment advisory & management fees | $27,394 |
| Benefits paid out | $3,059,869 |
| Net assets, start / end of year | $11.4M / $10.9M |
| Active participants, start / end of year | 852 / 779 |
| Participants with account balances | 344 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
Largest service providers (Schedule C)
| John Hancock USA | $35,201 reported compensation |
| Hardy Reed, LLC | $27,394 reported compensation |
| Benefits Administrators, LLC | $18,092 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002155918NAL0000683185001, received 2025-10-02, EIN 61-0662270, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.