Schnitzer Steel Industries, Inc. 401(k) Review & Grade
Schnitzer Steel Industries, Inc. Retirement Plan
Portland, ORManufacturing2,527 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,333Employer $ per active participant
$3,879Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$189.4MNet plan assets, end of year
$69,380Average balance per account
Score breakdown
- Employer generosity16.9 / 5034th percentile for employer $ per participant
- Low cost13.3 / 2553th percentile for low admin cost vs. same-size plans
- Employee saving3.5 / 1523th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 53th |
| Employee saving | 23th |
| Peers that auto-enroll | 70% |
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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
- Schnitzer Steel Industries put in about $2,333 per active participant, below the typical peer ($3,452). 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 | $5,896,716 |
| Participant (employee) contributions | $9,801,007 |
| Other contributions (incl. rollovers in) | $1,279,786 |
| Administrative expenses paid from the plan | $208,974 |
| Investment advisory & management fees | $147,607 |
| Other admin expenses | $600 |
| Benefits paid out | $29,041,374 |
| Net assets, start / end of year | $180.5M / $189.4M |
| Active participants, start / end of year | 2,615 / 2,439 |
| Participants with account balances | 2,730 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen, LLP |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $128,289 reported compensation |
| Empower Annuity Insurance Company O | $53,297 reported compensation |
| Canterbury Consulting Inc | $19,318 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924125618NAL0009245891001, received 2025-09-24, EIN 93-0341923, plan #010, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.