Indiana Harbor Belt Railroad Company 401(k) Review & Grade
Indiana Harbor Belt Railroad Company Agreement Employees' Savings Plan
Hammond, INTransportation & Warehousing534 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$41Employer $ per active participant
$5,159Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$28.5MNet plan assets, end of year
$50,221Average balance per account
Score breakdown
- Employer generosity2.4 / 505th percentile for employer $ per participant
- Low cost13.9 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 5th |
| Lower admin cost | 55th |
| Employee saving | 75th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Indiana Harbor Belt Railroad put in about $41 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.
- 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 | $21,768 |
| Participant (employee) contributions | $2,757,667 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $50,912 |
| Investment advisory & management fees | $10,341 |
| Other admin expenses | $3,995 |
| Benefits paid out | $2,213,728 |
| Net assets, start / end of year | $24.3M / $28.5M |
| Active participants, start / end of year | 540 / 529 |
| Participants with account balances | 567 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Insero & Co, LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $40,571 reported compensation |
| Vanguard Advisers Inc. | $10,341 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015145204NAL0002485699001, received 2025-10-15, EIN 36-6001389, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.