North American Holdings, Inc. 401(k) Review & Grade
North American Companies 401(k) Retirement Plan
Bismarck, NDTransportation & Warehousing948 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,312Employer $ per active participant
$3,387Employee $ saved per active participant
0.50%Direct admin cost, % of plan assets
$31.7MNet plan assets, end of year
$29,695Average balance per account
Score breakdown
- Employer generosity28.4 / 5057th percentile for employer $ per participant
- Low cost5.7 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving8.2 / 1555th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score39 / 100 · Grade D
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 | 23th |
| Employee saving | 55th |
| 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 ($43,569 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $33,586 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- North American Holdings put in about $1,312 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.
- Direct plan expenses (0.50% 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.
- 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 | $1,243,019 |
| Participant (employee) contributions | $3,208,988 |
| Other contributions (incl. rollovers in) | $572,242 |
| Administrative expenses paid from the plan | $151,560 |
| Contract administrator fees | $100,623 |
| Investment advisory & management fees | $50,937 |
| Benefits paid out | $5,077,568 |
| Net assets, start / end of year | $28.3M / $31.7M |
| Active participants, start / end of year | 1,013 / 882 |
| Participants with account balances | 1,068 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $100,622 reported compensation |
| Gallagher Fiduciary Advisors, LLC | $50,957 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250819112134NAL0001122195001, received 2025-08-19, EIN 45-0355620, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.