1 issue
Cleveland-Cliffs Steel LLC
71-0871875· Cleveland, OH· Fidelity· 2024 filing· vs 4 plans your size
C
0/100
Overall grade
Middle of the pack, with clear ways to do better.
–
Fees
not graded
B
Financial Wellness
F
Plan design
B
Compliance
Fees
Estimate only · not graded
Fees aren't disclosed. A typical estimate for a plan with this asset level is 14 bps, but this estimate is not graded.
Financial Wellness
Middle-of-the-pack savings. Employees put away $7,898/employee a year. That's about average for plans this size.
lower71th percentilehigher
Plan design
No employer match or contribution, the feature that matters most for savings.
No employer match
No match is reported. A match is the top reason employees enroll and contribute. 93% of similar plans offer one.
Automatic enrollment
New hires are enrolled by default. Plans with auto-enroll see much higher participation.
Safe harbor not reported
The filing does not establish whether this plan uses a safe harbor design, so it does not affect the grade.
Brokerage window
Employees can invest beyond the core fund menu through a self-directed brokerage account.
Compliance & health
1 item to review, nothing critical.
Fidelity bond below 10% of BOY assets, ERISA 412 violation
The reported ERISA fidelity bond is below the 10%-of-assets guideline based on beginning-of-year assets. Fast-growing plans can look under-bonded on paper; confirm against the plan's current bond coverage.
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Fidelity
No provider notes available.
Key insights
- Strongest area: compliance & health. 1 item to review, nothing critical.
- Best place to improve: plan design. No employer match or contribution, the feature that matters most for savings.
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