Benore Logistic Systems Inc 401(k) Review & Grade
Benore Logistic Systems Inc 401(k) Profit Sharing Plan & Trust
Erie, MITransportation & Warehousing1,112 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$639Employer $ per active participant
$1,628Employee $ saved per active participant
1.04%Direct admin cost, % of plan assets
$8.1MNet plan assets, end of year
$8,316Average balance per account
Score breakdown
- Employer generosity16.5 / 5033th percentile for employer $ per participant
- Low cost1.5 / 256th percentile for low admin cost vs. same-size plans
- Employee saving3.7 / 1525th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 33th |
| Lower admin cost | 6th |
| Employee saving | 25th |
| Peers that auto-enroll | 37% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $36,982 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Benore Logistic Systems put in about $639 per active participant, below the typical peer ($1,070). 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 (1.04% 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 | $710,810 |
| Participant (employee) contributions | $1,810,988 |
| Other contributions (incl. rollovers in) | $165,812 |
| Administrative expenses paid from the plan | $71,606 |
| Contract administrator fees | $40,933 |
| Investment advisory & management fees | $30,673 |
| Benefits paid out | $975,990 |
| Net assets, start / end of year | $5.7M / $8.1M |
| Active participants, start / end of year | 1,136 / 1,089 |
| Participants with account balances | 970 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Uhy LLP |
Largest service providers (Schedule C)
| Paychex, Inc. | $40,483 reported compensation |
| Merrill Lynch, Pierce, Fenner | $30,673 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009114210NAL0003872051001, received 2025-10-09, EIN 38-3201371, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.