Wayne Transports, Inc 401(k) Review & Grade
Wayne Transports, Inc. 401(k) Retirement Plan
Rosemount, MNTransportation & Warehousing630 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,429Employer $ per active participant
$6,533Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$45.2MNet plan assets, end of year
$51,595Average balance per account
Score breakdown
- Employer generosity38.7 / 5077th percentile for employer $ per participant
- Low cost13.2 / 2553th percentile for low admin cost vs. same-size plans
- Employee saving12.5 / 1584th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 53th |
| Employee saving | 84th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Wayne Transports put in about $2,429 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.
- 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 | $1,528,765 |
| Participant (employee) contributions | $4,112,419 |
| Other contributions (incl. rollovers in) | $227,277 |
| Administrative expenses paid from the plan | $85,819 |
| Contract administrator fees | $85,819 |
| Benefits paid out | $2,654,467 |
| Net assets, start / end of year | $37.1M / $45.2M |
| Active participants, start / end of year | 629 / 630 |
| Participants with account balances | 877 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Redpath and Company, LLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Co of Am | $40,500 reported compensation |
| Kestra Advisory Services, LLC | $37,974 reported compensation |
| DWC Erisa Consultants | $22,556 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251017154906NAL0003776947001, received 2025-10-17, EIN 41-0964489, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.