Belmark, Inc. 401(k) Review & Grade
Belmark Employees' Retirement Savings Plan and Trust
De Pere, WIManufacturing1,338 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,053Employer $ per active participant
$6,743Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$184.2MNet plan assets, end of year
$112,687Average balance per account
Score breakdown
- Employer generosity41.5 / 5083th percentile for employer $ per participant
- Low cost11.7 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving10.6 / 1571th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 47th |
| Employee saving | 71th |
| 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 ($75 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $525 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Belmark put in about $5,053 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $6,758,892 |
| Participant (employee) contributions | $9,018,931 |
| Other contributions (incl. rollovers in) | $910,777 |
| Administrative expenses paid from the plan | $434,375 |
| Investment advisory & management fees | $410,895 |
| Benefits paid out | $8,561,136 |
| Net assets, start / end of year | $158.1M / $184.2M |
| Active participants, start / end of year | 1,301 / 1,374 |
| Participants with account balances | 1,635 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Warady & Davis |
Largest service providers (Schedule C)
| Associated Trust Company, N.A. | $189,155 reported compensation |
| Geneva Capital Management | $185,220 reported compensation |
| Mma Securities LLC | $60,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260710085940NAL0000853811001, received 2026-07-10, EIN 39-1283237, plan #001, plan year 2024-10-01 to 2025-09-30. Verify at efast.dol.gov.