Plan Ledger DOL Form 5500 · updated monthly

Zip's Truck Equipment, Inc.401(k)

ZIP'S TRUCK EQUIPMENT, INC. RETIREMENT SAVINGS PLAN · NEW HAMPTON, IA · plan year 2024

Reported admin expense ratio · 2024
0.27%

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

Zip's Truck Equipment, Inc. reported $51,424 in plan administrative expenses for 2024: 0.27% of average plan assets, below the peer median. Employer contributions averaged $1,593 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 0.26% to 0.27%. 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 393rd-largest of 878 plans among Iowa employers on file, and the 5,871st of 13,661 in manufacturing. In 2024, employees put in $3.75 for every $1.00 the employer contributed; active participation has grown from 179 to 222 since 2022.

Plan summary
Net assets, end of year$20,333,632
Participants with balances218
Active participants222
Employer contributions$353,622
Employee contributions$1,324,488
Employer contribution per active participant$1,593
Average account balance$93,274
Benefits paid to participants$798,888
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$20.3M · 218 accts · $354K emplr
2023$17.2M · 203 accts · $354K emplr
2022$13.8M · 184 accts · $397K emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$51,424
Total administrative$51,424
The Zip's Truck Equipment, Inc. 401(k) match · 2024
Employer contribution per active participant$1,593
Median for plans this size$2,416
2024$1,593 per active participant
2023$1,728 per active participant
2022$2,219 per active participant

Zip's Truck Equipment, Inc.'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 · 20243
PRINCIPAL LIFE INSURANCE COMPANY · Contract administrator · Loan processing$51,424
MORNINGSTAR INVESTMENT MANAGEMENT L · Investment advisory (participants)indirect comp
WILSHIRE ADVISORS LLC · Investment advisory (plan)indirect comp

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

Administrative cost history3
2024$51,424 · 0.27%
2023$40,061 · 0.26%
2022$37,482 · 0.26%
Similar plansManufacturing · Iowa
Deco Products Company Lllp IA$20.9M · 0.22%
The Wittern Group IA$20.9M · 0.29%
American Pop Corn Company IA$19.4M · 0.34%

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Source: U.S. Department of Labor, Form 5500 series, EIN 421277278 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.