Steinhafels Inc. 401(k) Review & Grade
Steinhafels Inc. Profit Sharing 401(k) Plan
Waukesha, WIRetail Trade605 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$416Employer $ per active participant
$5,155Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$51.6MNet plan assets, end of year
$64,588Average balance per account
Score breakdown
- Employer generosity15.6 / 5031th percentile for employer $ per participant
- Low cost9.6 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1583th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 31th |
| Lower admin cost | 38th |
| Employee saving | 83th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $17,948 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Steinhafels put in about $416 per active participant, below the typical peer ($743). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $251,413 |
| Participant (employee) contributions | $3,118,518 |
| Other contributions (incl. rollovers in) | $34,780 |
| Administrative expenses paid from the plan | $159,395 |
| Contract administrator fees | $122,441 |
| Investment advisory & management fees | $36,954 |
| Benefits paid out | $5,667,785 |
| Net assets, start / end of year | $48.0M / $51.6M |
| Active participants, start / end of year | 611 / 599 |
| Participants with account balances | 799 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Dufek & Company, LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $122,441 reported compensation |
| Old National Bank | $24,594 reported compensation |
| 1834 Investment Advisors Co. | $12,374 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260402131425NAL0001177635001, received 2026-04-02, EIN 39-0975161, plan #001, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.