American Equipment HR, LLC 401(k) Review & Grade
American Equipment HR, LLC 401(k) Plan
Salt Lake City, UTWholesale Trade790 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,196Employer $ per active participant
$6,623Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$47.6MNet plan assets, end of year
$48,474Average balance per account
Score breakdown
- Employer generosity38.4 / 5077th percentile for employer $ per participant
- Low cost8.5 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score65 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 34th |
| Employee saving | 75th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,262 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- American Equipment HR put in about $3,196 per active participant, more than the typical peer ($1,792). 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.
- 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.
- 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 | $2,524,704 |
| Participant (employee) contributions | $5,232,351 |
| Other contributions (incl. rollovers in) | $1,097,761 |
| Administrative expenses paid from the plan | $158,488 |
| Contract administrator fees | $91,632 |
| Investment advisory & management fees | $66,856 |
| Benefits paid out | $7,963,109 |
| Net assets, start / end of year | $40.1M / $47.6M |
| Active participants, start / end of year | 763 / 817 |
| Participants with account balances | 981 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wsrp LLC |
Largest service providers (Schedule C)
| Stancorp Financial Group | $82,140 reported compensation |
| Onedigital Investment Advisors LLC | $71,629 reported compensation |
| Renasant Bank | $4,773 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250911170055NAL0000359763001, received 2025-09-11, EIN 88-3927589, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.