Salo Inc. 401(k) Review & Grade
Salo Incorporated 401(k) Plan
Worthington, OHManagement of Companies626 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$961Employer $ per active participant
$2,797Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$27.5MNet plan assets, end of year
$28,571Average balance per account
Score breakdown
- Employer generosity8.8 / 5018th percentile for employer $ per participant
- Low cost9.7 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving3.4 / 1523th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score25 / 100 · Grade F
This plan vs. peers
Peers: Management of Companies plans with 500–2,499 active participants (172 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 18th |
| Lower admin cost | 39th |
| Employee saving | 23th |
| Peers that auto-enroll | 58% |
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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
- Salo put in about $961 per active participant, below the typical peer ($2,492). 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.
- 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.
- 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 | $600,997 |
| Participant (employee) contributions | $1,749,835 |
| Other contributions (incl. rollovers in) | $469,893 |
| Administrative expenses paid from the plan | $84,062 |
| Contract administrator fees | $10,760 |
| Investment advisory & management fees | $73,302 |
| Benefits paid out | $5,016,299 |
| Net assets, start / end of year | $26.0M / $27.5M |
| Active participants, start / end of year | 639 / 612 |
| Participants with account balances | 961 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Flagel Huber Flagel |
Largest service providers (Schedule C)
| Swisher Financial Concepts | $47,968 reported compensation |
| John Hancock Life Insurance Company | $800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015090837NAL0005618336002, received 2025-10-15, EIN 31-1692726, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.