TK Elevator Corporation 401(k) Review & Grade
TK Elevator Retirement Savings Plan
Atlanta, GAConstruction3,804 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,003Employer $ per active participant
$8,173Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$667.7MNet plan assets, end of year
$123,554Average balance per account
Score breakdown
- Employer generosity41.3 / 5083th percentile for employer $ per participant
- Low cost22.3 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving12.0 / 1580th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score83 / 100 · Grade A
This plan vs. peers
Peers: Construction plans with 2,500–9,999 active participants (76 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 89th |
| Employee saving | 80th |
| Peers that auto-enroll | 57% |
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Red flags from the filing
Corrective distributions: the plan refunded $10,373 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- TK Elevator put in about $5,003 per active participant, more than the typical peer ($1,965). 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 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 | $19,029,916 |
| Participant (employee) contributions | $31,084,137 |
| Other contributions (incl. rollovers in) | $4,254,973 |
| Administrative expenses paid from the plan | $196,110 |
| Contract administrator fees | $3,000 |
| Benefits paid out | $89,414,722 |
| Net assets, start / end of year | $602.7M / $667.7M |
| Active participants, start / end of year | 3,742 / 3,865 |
| Participants with account balances | 5,404 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Plante & Moran PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $163,443 reported compensation |
| Plante & Moran, PLLC | $33,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008093049NAL0005343377001, received 2025-10-08, EIN 62-1211267, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.