Plan Ledger DOL Form 5500 · updated monthly

Taylor Metal Products Company401(k)

TAYLOR METAL PRODUCTS COMPANY PROFIT SHARING 401(K) PLAN AND TRUST · MANSFIELD, OH · plan year 2024

Reported admin expense ratio · 2024
0.42%

Peer grade: C+ · admin costs + employer contributions vs same-size plans · how grading works

Taylor Metal Products Company reported $71,248 in plan administrative expenses for 2024: 0.42% of average plan assets, above the peer median. Employer contributions averaged $1,972 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 0.39% to 0.42%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other manufacturing employers. By assets it is the 1,430th-largest of 3,295 plans among Ohio employers on file, and the 6,346th of 13,661 in manufacturing. In 2024, employees put in $1.20 for every $1.00 the employer contributed; active participation has grown from 123 to 142 since 2022.

Plan summary
Net assets, end of year$17,985,783
Participants with balances136
Active participants142
Employer contributions$280,000
Employee contributions$335,867
Employer contribution per active participant$1,972
Average account balance$132,248
Benefits paid to participants$1,007,352
Plan auditUnmodified (clean) audit opinion
AuditorPOOLER CPA GROUP LLC
Plan history3
Yearassets · accounts · employer contribution
2024$18.0M · 136 accts · $280K emplr
2023$16.2M · 126 accts · $140K emplr
2022$13.8M · 131 accts · $93K emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$71,248
Total administrative$71,248
The Taylor Metal Products Company 401(k) match · 2024
Employer contribution per active participant$1,972
Median for plans this size$2,416
2024$1,972 per active participant
2023$1,061 per active participant
2022$756 per active participant

Taylor Metal Products Company's 2024 employer contribution ran below the $2,416 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.

What these fees cost you

Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Service providers · 20241
PARK NATIONAL BANK · Recordkeeping · Trustee$71,248

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Recordkeeper by year2
2024PARK NATIONAL BANK
2023PARK NATIONAL BANK

Looking for an account from a past job here? How to find an old 401(k).

Administrative cost history3
2024$71,248 · 0.42%
2023$59,084 · 0.39%
2022$51,148 · 0.39%
Same employer
Similar plansManufacturing · Ohio
Gfs Chemicals, Inc. OH$18.3M · 0.22%
Zircoa, Inc. OH$18.3M · 0.06%
Cornerstone Wauseon, Inc. OH$18.3M · 0.02%
Malco Products, Inc. OH$17.9M · 0.26%
Jay Industries, Inc. OH$17.9M · 0.22%

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Source: U.S. Department of Labor, Form 5500 series, EIN 340690441 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.