Cascades USA Inc. 401(k) Review & Grade
Cascades Union Employees 401(k) Plan
Niagara Falls, NYManufacturing824 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,018Employer $ per active participant
$3,404Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$54.5MNet plan assets, end of year
$63,638Average balance per account
Score breakdown
- Employer generosity21.9 / 5044th percentile for employer $ per participant
- Low cost12.9 / 2552th percentile for low admin cost vs. same-size plans
- Employee saving4.2 / 1528th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 52th |
| Employee saving | 28th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Cascades USA put in about $2,018 per active participant, below the typical peer ($2,320). 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.
- 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 | $1,663,452 |
| Participant (employee) contributions | $2,806,317 |
| Other contributions (incl. rollovers in) | $303,153 |
| Administrative expenses paid from the plan | $111,784 |
| Investment advisory & management fees | $18,485 |
| Benefits paid out | $4,776,715 |
| Net assets, start / end of year | $48.6M / $54.5M |
| Active participants, start / end of year | 746 / 903 |
| Participants with account balances | 856 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $93,299 reported compensation |
| Strategic Advisors, Inc. | $18,485 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015193358NAL0007298992001, received 2025-10-15, EIN 68-0592968, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.