Butler Machinery Company 401(k) Review & Grade
Butler Machinery Company Retirement Plan
Fargo, NDWholesale Trade927 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,035Employer $ per active participant
$6,321Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$231.4MNet plan assets, end of year
$189,238Average balance per account
Score breakdown
- Employer generosity48.5 / 5097th percentile for employer $ per participant
- Low cost22.1 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving10.8 / 1572th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 97th |
| Lower admin cost | 88th |
| Employee saving | 72th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,121 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Butler Machinery put in about $9,035 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.
- 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 | $8,375,858 |
| Participant (employee) contributions | $5,859,948 |
| Other contributions (incl. rollovers in) | $873,345 |
| Administrative expenses paid from the plan | $104,351 |
| Investment advisory & management fees | $16,250 |
| Other admin expenses | $1,963 |
| Benefits paid out | $24,496,478 |
| Net assets, start / end of year | $214.9M / $231.4M |
| Active participants, start / end of year | 900 / 954 |
| Participants with account balances | 1,223 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Brady Martz & Associates, P.C. |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $77,750 reported compensation |
| Bell Bank Wealth Management | $16,250 reported compensation |
| Brady, Martz & Associates, P.C. | $11,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250728141902NAL0002378576001, received 2025-07-28, EIN 45-0113700, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.