Weigel Broadcasting Co. 401(k) Review & Grade
Weigel Broadcasting Co. Employees Profit Sharing and 401k Plan and Trust
Chicago, ILInformation510 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,215Employer $ per active participant
$5,400Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$53.7MNet plan assets, end of year
$87,438Average balance per account
Score breakdown
- Employer generosity18.4 / 5037th percentile for employer $ per participant
- Low cost11.4 / 2546th percentile for low admin cost vs. same-size plans
- Employee saving3.9 / 1526th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 46th |
| Employee saving | 26th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $37,136 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Weigel Broadcasting put in about $2,215 per active participant, below the typical peer ($2,829). 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.
- 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 | $1,130,880 |
| Participant (employee) contributions | $2,756,494 |
| Other contributions (incl. rollovers in) | $71,665 |
| Administrative expenses paid from the plan | $130,239 |
| Investment advisory & management fees | $57,728 |
| Benefits paid out | $3,464,206 |
| Net assets, start / end of year | $46.4M / $53.7M |
| Active participants, start / end of year | 503 / 518 |
| Participants with account balances | 614 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eisneramper LLP |
Largest service providers (Schedule C)
| Oneamerica Retirement Services LLC | $72,511 reported compensation |
| Creative Planning LLC | $57,728 reported compensation |
| Matrix Trust Company | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015143543NAL0009768066001, received 2025-10-15, EIN 36-2497545, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.