Palmer Trucks, Inc. 401(k) Review & Grade
Palmer Truck Group 401(k) Plan
Indianapolis, INRetail Trade672 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,727Employer $ per active participant
$5,174Employee $ saved per active participant
0.39%Direct admin cost, % of plan assets
$39.7MNet plan assets, end of year
$54,500Average balance per account
Score breakdown
- Employer generosity40.2 / 5080th percentile for employer $ per participant
- Low cost7.8 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving12.5 / 1583th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 31th |
| Employee saving | 83th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Palmer Trucks put in about $1,727 per active participant, more than the typical peer ($743). 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 (0.39% 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.
- 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 | $1,161,354 |
| Participant (employee) contributions | $3,479,492 |
| Other contributions (incl. rollovers in) | $299,994 |
| Administrative expenses paid from the plan | $144,082 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $29,991 |
| Other admin expenses | $10,971 |
| Benefits paid out | $4,167,159 |
| Net assets, start / end of year | $34.0M / $39.7M |
| Active participants, start / end of year | 637 / 708 |
| Participants with account balances | 728 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $90,970 reported compensation |
| Procourse Fiduciary Advisors LLC | $29,991 reported compensation |
| Cbiz Cpas P.C. | $12,150 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922112356NAL0006003840001, received 2025-09-22, EIN 35-1112033, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.