Association of American Railroads 401(k) Review & Grade
Association of American Railroads Incentive Thrift Plan
Washington, DCTransportation & Warehousing578 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,355Employer $ per active participant
$10,220Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$135.7MNet plan assets, end of year
$160,747Average balance per account
Score breakdown
- Employer generosity43.5 / 5087th percentile for employer $ per participant
- Low cost13.7 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving14.3 / 1595th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 55th |
| Employee saving | 95th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($72,724 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Association of American Railroads put in about $3,355 per active participant, more than the typical peer ($1,070). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,937,417 |
| Participant (employee) contributions | $5,902,209 |
| Other contributions (incl. rollovers in) | $1,367,724 |
| Administrative expenses paid from the plan | $260,108 |
| Investment advisory & management fees | $70,000 |
| Benefits paid out | $17,567,621 |
| Net assets, start / end of year | $129.0M / $135.7M |
| Active participants, start / end of year | 558 / 597 |
| Participants with account balances | 844 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Uhy LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $190,108 reported compensation |
| Capfinancial Partners LLC DBA Captr | $70,000 reported compensation |
| Empower Financial Services, Inc. | $30 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014115537NAL0002694849001, received 2025-10-14, EIN 53-6000125, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.