Tallgrass Management LLC 401(k) Review & Grade
Tallgrass Management LLC 401(k) Savings Plan
Leawood, KSTransportation & Warehousing1,088 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$11,099Employer $ per active participant
$12,333Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$187.0MNet plan assets, end of year
$139,843Average balance per account
Score breakdown
- Employer generosity49.6 / 5099th percentile for employer $ per participant
- Low cost18.2 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving14.7 / 1598th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score90 / 100 · Grade A
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 99th |
| Lower admin cost | 73th |
| Employee saving | 98th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,678 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Tallgrass Management put in about $11,099 per active participant, more than the typical peer ($1,070). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $12,080,876 |
| Participant (employee) contributions | $13,424,834 |
| Other contributions (incl. rollovers in) | $3,909,828 |
| Administrative expenses paid from the plan | $179,476 |
| Contract administrator fees | $3,300 |
| Investment advisory & management fees | $61,819 |
| Benefits paid out | $20,522,432 |
| Net assets, start / end of year | $156.2M / $187.0M |
| Active participants, start / end of year | 1,019 / 1,158 |
| Participants with account balances | 1,337 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Novak Birks PC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $102,177 reported compensation |
| Mariner Retirement Advisors LLC | $61,819 reported compensation |
| Novak Birks P.C | $15,480 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915151709NAL0001130833001, received 2025-09-15, EIN 80-0848992, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.