Shaner Operating Corp 401(k) Review & Grade
Shaner Enterprises 401(k) Plan
State College, PAAccommodation & Food Services1,766 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$0Employer $ per active participant
$1,421Employee $ saved per active participant
0.55%Direct admin cost, % of plan assets
$29.9MNet plan assets, end of year
$31,105Average balance per account
Score breakdown
- Employer generosity3.3 / 507th percentile for employer $ per participant
- Low cost5.1 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving11.2 / 1575th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 7th |
| Lower admin cost | 20th |
| Employee saving | 75th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Corrective distributions: the plan refunded $35,176 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Shaner Operating put in about $0 per active participant, below the typical peer ($266). 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 (0.55% 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 | $1 |
| Participant (employee) contributions | $2,509,404 |
| Other contributions (incl. rollovers in) | $450,221 |
| Administrative expenses paid from the plan | $153,712 |
| Contract administrator fees | $147,586 |
| Other admin expenses | $6,126 |
| Benefits paid out | $3,022,467 |
| Net assets, start / end of year | $26.3M / $29.9M |
| Active participants, start / end of year | 1,819 / 1,714 |
| Participants with account balances | 961 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $147,508 reported compensation |
| Shaner Hotel Holdings | $12,312 reported compensation |
| Revere Asset Management Inc | $6,126 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251012080709NAL0000048867001, received 2025-10-12, EIN 16-1379569, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.