Industry · Form 5500 business code 331200
Steel Product Mfg from Purchased Steel: retirement plans
Plans whose sponsor entered this principal business activity code on Form 5500.
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. The business code is chosen by the filer from the list in the Form 5500 instructions.
For plan year 2024, 189 retirement plans in steel product mfg from purchased steel with 100 or more participants filed Form 5500: 168 defined contribution and 21 defined benefit. They reported 110,441 participant records and $8.16B in net assets, counting every plan on the form.
The median defined contribution plan held $49,663 per participant, below the national median of $53,031, and its employer put in $1,969 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $132 per participant against $123 nationally.
Employers contributed $237M and participants $337M during the year, and the plans paid out $1.03B in benefits.
In 2009 the same group numbered 250 plans with $3.90B; by 2024 it was 189 plans (down 24%) and $8.16B (up 109%). From plan year 2023 the 100-participant line counts participants with account balances, which moved many plans to the short form.
Medians compared with all US plans
| Median plan, plan year 2024 | Industry: DC | US: DC | Industry: DB | US: DB |
|---|---|---|---|---|
| Net assets per participant | $49,663 | $53,031 | $95,119 | $86,234 |
| Employer contributions per active participant | $1,969 | $2,174 | $8,333 | $10,244 |
| Schedule C compensation per participant | $132 | $123 | $447 | $344 |
| Schedule C compensation, share of net assets | 0.28% | 0.26% | 0.52% | 0.42% |
| Administrative expenses per participant | $130 | $116 | $649 | $527 |
Medians across plans with 100 or more participants (156 DC and 21 DB plans with a Schedule H here). Fee medians cover plans reporting an amount. DC: defined contribution, such as 401(k) and 403(b). DB: defined benefit pension.
Distribution of DC plans
| Measure | 25th percentile | Median | 75th percentile | Plans |
|---|---|---|---|---|
| Net assets per participant | $32,262 | $49,663 | $81,071 | 156 |
| Employer contributions per active participant | $1,341 | $1,969 | $3,159 | 156 |
| Schedule C compensation per participant | $64.04 | $132 | $209 | 148 |
| Administrative expenses per participant | $72.09 | $130 | $201 | 153 |
Trend by plan year
| Plan year | Plans 100+ | Participants | Net assets | Employer contributions | Participant contributions | Median DC assets / participant | Median DC Sch. C / participant |
|---|---|---|---|---|---|---|---|
| 2025partial | 29 | 12,731 | $1.09B | $23.0M | $43.9M | $65,855 | $140 |
| 2024 | 189 | 110,441 | $8.16B | $237M | $337M | $49,663 | $132 |
| 2023 | 193 | 108,994 | $6.99B | $243M | $285M | $47,271 | $121 |
| 2022 | 231 | 112,741 | $6.82B | $235M | $291M | $37,911 | $99.92 |
| 2021 | 232 | 100,457 | $7.40B | $178M | $232M | $46,459 | $110 |
| 2020 | 232 | 106,467 | $7.75B | $176M | $235M | $41,043 | $91.91 |
| 2019 | 242 | 111,330 | $6.51B | $205M | $232M | $36,742 | $82.43 |
| 2018 | 239 | 109,736 | $5.67B | $213M | $209M | $29,966 | $76.13 |
| 2017 | 231 | 102,457 | $5.91B | $219M | $185M | $35,764 | $68.19 |
| 2016 | 229 | 102,926 | $5.52B | $176M | $168M | $31,874 | $57.50 |
| 2015 | 236 | 113,928 | $5.68B | $187M | $168M | $28,026 | $45.89 |
| 2014 | 234 | 116,450 | $5.65B | $220M | $160M | $28,418 | $38.13 |
| 2013 | 240 | 115,823 | $5.39B | $206M | $151M | $30,350 | $28.17 |
| 2012 | 239 | 115,268 | $4.75B | $191M | $141M | $26,276 | $33.29 |
| 2011 | 226 | 110,292 | $4.12B | $224M | $124M | $24,459 | $24.94 |
| 2010 | 232 | 104,379 | $3.64B | $157M | $114M | $26,555 | $29.56 |
| 2009 | 250 | 114,528 | $3.90B | $152M | $120M | $24,257 | $32.53 |
Plan year is the year in which the plan year began. The drop in large plans from 2023 follows a rule change: the 100-participant line now counts participants with account balances, so many plans moved to the short form.
Provider share
Service provider organisations named most often on the Schedule C of the 188 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 188 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| Greif 401(k) Retirement Plan | Greif Packaging LLC | OH | DC | 9,160 | $863M | $94,258 | $4,502 | $101 |
| Ryerson Savings Plan | Joseph T. Ryerson & Son, Inc. | IL | DC | 3,704 | $462M | $124,711 | $3,456 | $47.92 |
| Worthington Steel, Inc. 401(k) Retirement Savings Plan | Worthington Steel, Inc. | OH | DC | 3,264 | $584M | $178,839 | $4,536 | $30.83 |
| Schnitzer Steel Industries, Inc. Retirement Plan | Schnitzer Steel Industries, Inc. | OR | DC | 3,228 | $189M | $58,676 | $2,418 | $62.42 |
| Kloeckner Metals 401(k) Plan | Klockner Metals Corporation | GA | DC | 2,974 | $289M | $97,059 | $2,974 | $123 |
| Lexicon 401(k) Plan | Lexicon Management Group, Inc. | AR | DC | 2,673 | $82.5M | $30,875 | $1,240 | $27.80 |
| Zekelman Industries Employees 401(k) and Pension Plan | Zekelman Industries (Formerly JMC Steel) | IL | DC | 2,654 | $223M | $84,158 | $4,925 | $57.84 |
| Wastequip LLC 401(k) Retirement Plan | Wastequip, LLC. | NC | DC | 2,196 | $72.9M | $33,181 | $1,348 | $138 |
| Ryerson Pension Plan | Joseph T. Ryerson & Son, Inc. | IL | DB | 1,966 | $200M | $101,574 | $37,097 | $426 |
| Kloeckner Metals Defined Benefit Plan | Kloeckner Metals Corporation | GA | DB | 1,933 | $184M | $95,119 | $0 | $321 |
| Janus International Group, LLC 401(k) Plan | Janus International Group, LLC | GA | DC | 1,864 | $43.5M | $23,364 | $1,267 | $140 |
| Ariel Corporation Employee Retirement Plan | Ariel Corporation | OH | DC | 1,860 | $391M | $210,072 | $10,600 | $48.48 |
| Bekaert Corporation 401(k) Profit Sharing Plan | Bekaert Corporation | GA | DC | 1,748 | $178M | $101,584 | $2,038 | $114 |
| Webco Industries, Inc. Employee Investment Plan | Webco Industries, Inc. | OK | DC | 1,563 | $99.8M | $63,844 | $1,374 | $59.80 |
| Olympic Steel, Inc. Employees' 401(k) Retirement Plan | Olympic Steel, Inc., an Ohio Corporation | OH | DC | 1,416 | $95.6M | $67,538 | $1,653 | $185 |
| Modineer Co. Profit Sharing Savings Plan | Modineer Co. | MI | DC | 1,375 | $33.9M | $24,672 | $1,925 | $114 |
| Stephens Pipe and Steel 401(k) Plan | Stephens Pipe and Steel, LLC | KY | DC | 1,236 | $20.6M | $16,667 | $1,198 | $131 |
| Shopmen Local Union 502 Pension Plan | Shopmen Iron Workers Local 502 Board of Trustees Pension Fund | PA | DB | 1,208 | $75.1M | $62,200 | $9,664 | $177 |
| Zekelman Industries Collectively Bargained Employees 401(k) Plan | Wheatland Tube, LLC | IL | DC | 1,197 | $137M | $114,162 | $2,536 | $98.93 |
| Gerdau Macsteel Savings Plan for Bargaining Employees | Gerdau Macsteel, Inc. | MI | DC | 1,150 | $66.4M | $57,751 | $1,781 | $84.63 |
| Gerdau Macsteel Pension Plan for Bargaining Employees | Gerdau Macsteel, Inc. | FL | DB | 1,038 | $73.5M | $70,857 | $7,529 | $402 |
| Afco Steel 401(k) Savings Plan | W&w-Afco Steel LLC | OK | DC | 956 | $62.2M | $65,067 | $3,862 | $101 |
| Universal Stainless & Alloy Products, Inc. Employees 401(k) Plan | Universal Stainless & Alloy Products, Inc. | PA | DC | 941 | $36.2M | $38,460 | $1,825 | $29.98 |
| SPS Companies, Inc. Retirement Plan | SPS Companies, Inc. | KS | DC | 915 | $74.2M | $81,098 | $2,050 | $142 |
| Eis 401(k) Plan | Eis Legacy, LLC | GA | DC | 866 | $54.4M | $62,767 | $2,166 | $102 |
| Farwest Steel Corporation and Affiliated Companies 401(k) Plan | Farwest Steel Corporation | OR | DC | 847 | $47.9M | $56,568 | $1,943 | $154 |
| Huron Casting, Inc., Axis, Aci, BDSC, BCM, Brne 401(k) Plan | Huron Casting, Inc. | MI | DC | 831 | $47.9M | $57,642 | $839 | $5.59 |
| PTC Alliance LLC 401(k) Plan | PTC Alliance LLC | PA | DC | 827 | $56.8M | $68,654 | $2,409 | $205 |
| Bekaert Corporation Retirement Income Plan | Bekaert Corporation | GA | DB | 810 | $96.5M | $119,131 | — | $741 |
| Gerdau Macsteel Savings Plan | Gerdau Macsteel, Inc. | MI | DC | 810 | $113M | $139,400 | $5,141 | $99.86 |
| Schulte Building Systems 401(k) Plan | Schulte Building Systems, Inc. | TX | DC | 797 | $45.9M | $57,585 | $1,363 | $202 |
| Smalley USA 401(k) Retirement Savings Plan | Smalley Steel Ring Co. | IL | DC | 772 | $100M | $129,668 | $3,684 | $123 |
| Sheet Metal Workers Local No. 124 Pension Plan | Sheet Metal Workers Local No. 124 Pension Plan | OK | DB | 751 | $57.2M | $76,218 | $5,644 | $385 |
| PTC Alliance LLC Union Retirement Savings Plan | PTC Alliance LLC | PA | DC | 732 | $49.8M | $67,990 | $1,388 | $191 |
| Ulbrich Plus Savings and Retirement Plan | Ulbrich Stainless Steels & Special Metals, Inc. | CT | DC | 728 | $131M | $180,395 | $5,279 | $17.74 |
| Kingspan Holdings Panels US Inc. 401(k) Plan | Kingspan Holdings Panels US Inc. | FL | DC | 721 | $41.9M | $58,105 | $3,003 | $154 |
| Sheet Metal Workers Local 100 (Baltimore Area) Annuity Plan and Trust | Trustees of the Sheet Metal Workers Local 100 (Baltimore Area) Annuity | MD | DC | 683 | $21.1M | $30,915 | $3,664 | $208 |
| John Maneely Company Pension Plan | Wheatland Tube, LLC | IL | DB | 658 | $153M | $232,125 | $8,333 | $1,333 |
| Union Partners I LLC 401(k) Saving Plan | Union Partners I LLC | IL | DC | 652 | $42.5M | $65,215 | $1,741 | $226 |
| JSW Steel USA Inc. 401(k) Profit Sharing Plan & Trust | JSW Steel USA Inc. | TX | DC | 652 | $21.9M | $33,522 | $2,539 | $148 |
By plan size
By state
Questions and answers
How many retirement plans are there in steel product mfg from purchased steel?
189 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 267 pension plans on the full form. Smaller plans file Form 5500-SF and are counted separately where shown.
What is the typical 401(k) balance in steel product mfg from purchased steel?
The median defined contribution plan reported $49,663 in net assets per participant (middle half of plans: $32,262 to $81,071); nationally it was $53,031. This is a plan-level average that includes former employees, not a typical person's balance.
What do employers contribute in steel product mfg from purchased steel?
The median defined contribution plan received $1,969 in employer contributions per active participant, against $2,174 nationally. Plans with no employer contribution are included at zero.
What are average 401(k) fees in steel product mfg from purchased steel?
Among defined contribution plans that report any Schedule C compensation, the median was $132 per participant and 0.28% of net assets (nationally $123 and 0.26%). Schedule C leaves out fund expense ratios and fees the employer pays, so it understates total cost.
Where does this come from?
Form 5500 annual reports in the EBSA research files, with filings received through 24 Aug 2026. Medians are computed by this site across plans with 100 or more participants.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files, public domain, with filings received through 24 Aug 2026. Totals count every pension plan on the full form; medians and the plan list cover plans with 100 or more participants. See the methodology.