Akers Packaging Service, Inc. 401(k) Review & Grade
Akers Packaging Service, Inc. 401(k) Profit Sharing Plan
Middletown, OHManufacturing514 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,364Employer $ per active participant
$4,942Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$48.3MNet plan assets, end of year
$85,383Average balance per account
Score breakdown
- Employer generosity25.6 / 5051th percentile for employer $ per participant
- Low cost20.6 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving7.5 / 1550th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 82th |
| Employee saving | 50th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($65,062 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $1,720 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Akers Packaging Service put in about $2,364 per active participant, more than the typical peer ($2,320). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $1,213,699 |
| Participant (employee) contributions | $2,537,908 |
| Other contributions (incl. rollovers in) | $1,189,757 |
| Administrative expenses paid from the plan | $29,988 |
| Other admin expenses | $29,000 |
| Benefits paid out | $4,006,910 |
| Net assets, start / end of year | $41.5M / $48.3M |
| Active participants, start / end of year | 496 / 531 |
| Participants with account balances | 566 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clark Schaefer Hackett |
Largest service providers (Schedule C)
| Morgan Stanley | $29,000 reported compensation |
| Fidelity Investments Institutional | $988 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010141436NAL0008295201001, received 2025-10-10, EIN 31-0671096, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.