Carousel Industries of North America 401(k) Review & Grade
NWN Carousel 401(k) Plan
Exeter, RIProfessional, Scientific & Technical Services857 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,573Employer $ per active participant
$13,111Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$194.3MNet plan assets, end of year
$118,466Average balance per account
Score breakdown
- Employer generosity21.3 / 5043th percentile for employer $ per participant
- Low cost16.9 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving12.1 / 1581th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 67th |
| Employee saving | 81th |
| Peers that auto-enroll | 48% |
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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 ($8,392 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $3,610 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Carousel Industries of North America put in about $2,573 per active participant, below the typical peer ($3,082). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $2,205,451 |
| Participant (employee) contributions | $11,235,981 |
| Other contributions (incl. rollovers in) | $1,995,547 |
| Administrative expenses paid from the plan | $239,838 |
| Contract administrator fees | $2,400 |
| Investment advisory & management fees | $78,004 |
| Benefits paid out | $25,693,342 |
| Net assets, start / end of year | $178.4M / $194.3M |
| Active participants, start / end of year | 695 / 1,019 |
| Participants with account balances | 1,640 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | PFK O'connor Davies, LLP |
Largest service providers (Schedule C)
| Usi Advisors Inc | $78,004 reported compensation |
| PKF O'connor Davies, LLP | $43,000 reported compensation |
| Usi Consulting Group | $17,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015091455NAL0008484674001, received 2025-10-15, EIN 06-1502254, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.