Long Iron Services, LLC 401(k) Review & Grade
Heniff Companies 401(k) Retirement Savings Plan
Oak Brook, ILTransportation & Warehousing1,546 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,322Employer $ per active participant
$4,743Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$102.2MNet plan assets, end of year
$54,920Average balance per account
Score breakdown
- Employer generosity28.6 / 5057th percentile for employer $ per participant
- Low cost12.9 / 2552th percentile for low admin cost vs. same-size plans
- Employee saving10.7 / 1572th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 52th |
| Employee saving | 72th |
| 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
- Long Iron Services put in about $1,322 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.
- 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 | $2,043,362 |
| Participant (employee) contributions | $7,332,390 |
| Other contributions (incl. rollovers in) | $780,647 |
| Administrative expenses paid from the plan | $217,189 |
| Investment advisory & management fees | $73,687 |
| Benefits paid out | $17,358,946 |
| Net assets, start / end of year | $97.2M / $102.2M |
| Active participants, start / end of year | 1,505 / 1,587 |
| Participants with account balances | 1,860 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $143,502 reported compensation |
| Capital Strategies Investment Group | $73,687 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007080756NAL0007524448001, received 2025-10-07, EIN 32-0572817, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.