Tank Holding Corp. 401(k) Review & Grade
The 401(k) Plan
Mound, MNManufacturing2,770 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,215Employer $ per active participant
$2,171Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$86.7MNet plan assets, end of year
$47,470Average balance per account
Score breakdown
- Employer generosity7.0 / 5014th percentile for employer $ per participant
- Low cost10.7 / 2543th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score19 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 43th |
| Employee saving | 9th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($8,322 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Tank Holding put in about $1,215 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $3,364,441 |
| Participant (employee) contributions | $6,014,608 |
| Other contributions (incl. rollovers in) | $2,669,239 |
| Administrative expenses paid from the plan | $123,741 |
| Contract administrator fees | $123,741 |
| Benefits paid out | $9,480,453 |
| Net assets, start / end of year | $74.6M / $86.7M |
| Active participants, start / end of year | 2,822 / 2,718 |
| Participants with account balances | 1,827 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lutz & Company, PC |
Largest service providers (Schedule C)
| Capfinancial Partners LLC | $87,210 reported compensation |
| Empower Annuity Insurance Company | $31,796 reported compensation |
| Empower Advisory Group, LLC | $27,979 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251023114007NAL0001428819001, received 2025-10-23, EIN 45-5472404, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.