O'neal Steel, Inc. 401(k) Review & Grade
O'neal Steel 401(k) Plan
Birmingham, ALWholesale Trade3,143 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,302Employer $ per active participant
$5,945Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$426.4MNet plan assets, end of year
$116,889Average balance per account
Score breakdown
- Employer generosity32.8 / 5066th percentile for employer $ per participant
- Low cost24.2 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving8.8 / 1559th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 66th |
| Lower admin cost | 97th |
| Employee saving | 59th |
| Peers that auto-enroll | 62% |
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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 ($18,081 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- O'neal Steel put in about $3,302 per active participant, more than the typical peer ($2,459). 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 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 | $10,377,951 |
| Participant (employee) contributions | $18,684,624 |
| Other contributions (incl. rollovers in) | $5,797,556 |
| Administrative expenses paid from the plan | $51,810 |
| Contract administrator fees | $300 |
| Other admin expenses | $274,861 |
| Benefits paid out | $50,157,852 |
| Net assets, start / end of year | $382.0M / $426.4M |
| Active participants, start / end of year | 3,146 / 3,140 |
| Participants with account balances | 3,648 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bmss, LLC |
Largest service providers (Schedule C)
| Capfinancialpartnersllc | $274,861 reported compensation |
| Bms&s, LLC | $29,500 reported compensation |
| Fidelity Investments Institutional | −$252,128 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006092006NAL0003408225001, received 2025-10-06, EIN 63-0196990, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.