Steelfab, Inc. 401(k) Plan: Login, Facts & Contact Information

Steelfab, Inc. 401(k) Plan Facts

Plan name
STEELFAB, INC. PROFIT SHARING AND 401(K) PLAN
Plan type
401(k) with employer contributions and profit sharing
Plan sponsor
STEELFAB, INC.
Participants
2,080 (2,017 active employees)
Former employees with a balance
170
Plan assets
$102,399,736 at Dec 31, 2024
Average account balance
$54,613 across 1,875 accounts
Employer contributions
$5,721,239 in plan year 2024 (37% of all contributions)
Recordkeeper
Principal Life Insurance Company
Plan year
Jan 1, 2024 – Dec 31, 2024
Plan established
Apr 1, 1980
✓ Employer contributions— Automatic enrollment✓ Default investment for undecided participants✓ Participants choose their own investments— Self-directed brokerage window✓ Profit sharing— Company stock (ESOP)

Source: Form 5500 for plan year 2024 (Jan 1, 2024 – Dec 31, 2024), filed Sep 30, 2025. Public filing with the U.S. Department of Labor.

Money in and out in plan year 2024

  • $15.4 million went into the plan in contributions, $5.72 million of it from the employer (37%).
  • $6.68 million was paid out to participants.
  • Investment and other income added $10.1 million.
  • Administrative expenses were $243,861, about $130 per account.

How the Steelfab, Inc. 401(k) changed, 2019–2024

Plan yearParticipantsPlan assetsEmployer contributionsBenefits paid
20191,533$49.1 million$2.19 million$2.65 million
20201,645$60.5 million$2.50 million$3.31 million
20211,632$71.2 million$2.74 million$4.68 million
20221,793$63.8 million$2.98 million$4.84 million
20231,912$83.9 million$8.32 million$5.75 million
20242,080$102.4 million$5.72 million$6.68 million

Steelfab, Inc. 401(k) Contact Information

Phone
704-394-5376
Mailing address
8623 OLD DOWD ROAD, CHARLOTTE NC 28214
Plan sponsor
STEELFAB, INC.
Employer identification number (EIN)
56-0713333
Plan number
001

Questions about the Steelfab, Inc. 401(k)

Does Steelfab, Inc contribute to the 401(k)?

Yes. The plan reports an employer contribution arrangement. In plan year 2024 the employer contributed $5.72 million, 37% of all contributions.

Does the Steelfab, Inc 401(k) have automatic enrollment?

No. The plan does not report automatic enrollment; employees enroll themselves.

How many people are in the Steelfab, Inc 401(k) plan?

2,080 participants at the start of plan year 2024, 2,017 of them active employees, and 170 former employees who still had money in the plan.

What is the average 401(k) balance at Steelfab, Inc?

About $54,613 per account: $102.4 million in plan assets across 1,875 accounts with a balance at the end of plan year 2024.

Who manages the Steelfab, Inc 401(k) accounts?

Principal (listed on the filing as PRINCIPAL LIFE INSURANCE COMPANY) is the plan's recordkeeper, which is where participants log in to see their balance.

I no longer work at Steelfab, Inc. How do I access my 401(k)?

Your account stays with Principal after you leave, so you can log in with the same credentials. If your balance was small, the plan may have rolled it into an IRA in your name. If you can't find it, Beagle can locate it for you.

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