Van Wyk, Inc. 401(k) Review & Grade
Van Wyk/link Manufacturing/maintainer Corporation 401(k) Profit Sharing Plan
Sheldon, IATransportation & Warehousing676 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,401Employer $ per active participant
$2,489Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$30.2MNet plan assets, end of year
$53,997Average balance per account
Score breakdown
- Employer generosity29.7 / 5059th percentile for employer $ per participant
- Low cost10.3 / 2541th percentile for low admin cost vs. same-size plans
- Employee saving6.0 / 1540th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 59th |
| Lower admin cost | 41th |
| Employee saving | 40th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $56,692 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Van Wyk put in about $1,401 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 | $946,761 |
| Participant (employee) contributions | $1,682,512 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $83,815 |
| Investment advisory & management fees | $34,128 |
| Benefits paid out | $2,485,235 |
| Net assets, start / end of year | $26.6M / $30.2M |
| Active participants, start / end of year | 678 / 674 |
| Participants with account balances | 559 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Winther, Stave & Co. , LLP |
Largest service providers (Schedule C)
| Alerus Financial, N.A. | $49,687 reported compensation |
| Intellicents Inc | $34,128 reported compensation |
| Charles Schwab Trust Bank | $6,198 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009112328NAL0003856531001, received 2025-10-09, EIN 42-0954411, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.