Cirtec Medical Corporation 401(k) Review & Grade
Cirtec Medical Corporation 401(k) Plan
Brooklyn Park, MNManufacturing1,449 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,813Employer $ per active participant
$5,243Employee $ saved per active participant
0.43%Direct admin cost, % of plan assets
$52.1MNet plan assets, end of year
$27,691Average balance per account
Score breakdown
- Employer generosity19.1 / 5038th percentile for employer $ per participant
- Low cost7.0 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving8.2 / 1555th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 38th |
| Lower admin cost | 28th |
| Employee saving | 55th |
| 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 ($70,837 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Cirtec Medical put in about $1,813 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.
- Direct plan expenses (0.43% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $2,627,108 |
| Participant (employee) contributions | $7,597,149 |
| Other contributions (incl. rollovers in) | $484,523 |
| Administrative expenses paid from the plan | $200,686 |
| Contract administrator fees | $99,840 |
| Investment advisory & management fees | $100,846 |
| Benefits paid out | $5,439,487 |
| Net assets, start / end of year | $41.4M / $52.1M |
| Active participants, start / end of year | 1,457 / 1,441 |
| Participants with account balances | 1,881 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| Stancorp Financial Group | $188,759 reported compensation |
| Global Retirement Partners | $42,480 reported compensation |
| Schwab | $20,300 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013142050NAL0000703075001, received 2025-10-13, EIN 85-2716261, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.