Penske Truck Leasing Co., LP 401(k) Review & Grade
Penske Logistics Retirement Savings Plan
Reading, PAReal Estate & Rental5,554 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,646Employer $ per active participant
$3,864Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$359.9MNet plan assets, end of year
$86,806Average balance per account
Score breakdown
- Employer generosity33.7 / 5067th percentile for employer $ per participant
- Low cost20.5 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving8.9 / 1559th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Real Estate & Rental plans with 2,500–9,999 active participants (50 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 67th |
| Lower admin cost | 82th |
| Employee saving | 59th |
| Peers that auto-enroll | 46% |
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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 ($404 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
- Penske Truck Leasing Co., LP put in about $1,646 per active participant, more than the typical peer ($1,141). 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 | $9,139,238 |
| Participant (employee) contributions | $21,457,836 |
| Other contributions (incl. rollovers in) | $2,780,786 |
| Administrative expenses paid from the plan | $143,959 |
| Benefits paid out | $38,042,834 |
| Net assets, start / end of year | $312.6M / $359.9M |
| Active participants, start / end of year | 5,543 / 5,564 |
| Participants with account balances | 4,146 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche Llpd |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $181,760 reported compensation |
| Mercer | $54,207 reported compensation |
| Deloitte and Touche, LLP | $46,200 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015164556NAL0006963360001, received 2025-10-15, EIN 23-2518618, plan #010, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.