Progress Industries403(b)
THRIFT PLAN FOR EMPLOYEES OF PROGRESS INDUSTRIES · NEWTON, IA · plan year 2024
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
Progress Industries reported $50,182 in plan administrative expenses for 2024: 0.51% of average plan assets, below the peer median. Employer contributions averaged $1,098 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.32% to 0.51%. The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other health care & social assistance employers. By assets it is among the smaller plans on file in Iowa (575th of 878), and the 5,698th of 11,911 in health care & social assistance. In 2024, employees put in $1.23 for every $1.00 the employer contributed; active participation has grown from 175 to 199 since 2022.
Progress Industries's 2024 employer contribution ran below the $1,313 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 421122161 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.