Coldwater Veneer, Inc. 401(k) Review & Grade
Coldwater Veneer, Inc. 401(k) Plan Profit Sharing Plan
Coldwater, MIManufacturing850 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$78Employer $ per active participant
$356Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$6.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity1.1 / 502th percentile for employer $ per participant
- Low cost10.2 / 2541th percentile for low admin cost vs. same-size plans
- Employee saving0.1 / 151th 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 score1 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 2th |
| Lower admin cost | 41th |
| Employee saving | 1th |
| 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 ($2,325 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
- Coldwater Veneer put in about $78 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.
- 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 | $66,387 |
| Participant (employee) contributions | $302,401 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $21,492 |
| Contract administrator fees | $21,492 |
| Benefits paid out | $2,028,451 |
| Net assets, start / end of year | $7.9M / $6.6M |
| Active participants, start / end of year | 847 / 854 |
| Participants with account balances | 151 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Trailbreaker Accounting PLLC |
Largest service providers (Schedule C)
| Orenda Retirement, LLC | $12,831 reported compensation |
| Principal Financial Group | $10,599 reported compensation |
| Side by Side Financials, Inc. | $9,062 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250804130257NAL0000980769001, received 2025-08-04, EIN 82-4262380, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.