Riteway Bus Service, Inc. 401(k) Review & Grade
Riteway Bus Service, Inc. 401(k) Plan
Oak Creek, WITransportation & Warehousing1,746 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$231Employer $ per active participant
$1,056Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$16.6MNet plan assets, end of year
$9,888Average balance per account
Score breakdown
- Employer generosity5.5 / 5011th percentile for employer $ per participant
- Low cost4.3 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 11th |
| Lower admin cost | 17th |
| Employee saving | 14th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $55,804 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Riteway Bus Service put in about $231 per active participant, below the typical peer ($1,070). Any match is still an instant return, so contribute enough to get all of it.
- 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 (0.61% 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.
- 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 | $402,730 |
| Participant (employee) contributions | $1,842,722 |
| Other contributions (incl. rollovers in) | $127,869 |
| Administrative expenses paid from the plan | $91,951 |
| Investment advisory & management fees | $32,261 |
| Benefits paid out | $1,224,581 |
| Net assets, start / end of year | $13.8M / $16.6M |
| Active participants, start / end of year | 1,254 / 2,237 |
| Participants with account balances | 1,682 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wipfli |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $59,690 reported compensation |
| Spectrum Investment Advisors Inc | $32,261 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250618151831NAL0001348659001, received 2025-06-18, EIN 39-0928067, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.