Conn-Selmer, Inc. 401(k) Review & Grade
Conn-Selmer 401(k) & Profit Sharing Plan
Elkhart, INManufacturing548 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,512Employer $ per active participant
$5,030Employee $ saved per active participant
0.41%Direct admin cost, % of plan assets
$43.3MNet plan assets, end of year
$44,063Average balance per account
Score breakdown
- Employer generosity15.6 / 5031th percentile for employer $ per participant
- Low cost7.5 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-20 pts2 issues reported on the filing
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 31th |
| Lower admin cost | 30th |
| Employee saving | 52th |
| 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 ($792,475 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Conn-Selmer put in about $1,512 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 (0.41% 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 | $829,466 |
| Participant (employee) contributions | $2,758,751 |
| Other contributions (incl. rollovers in) | $1,042,067 |
| Administrative expenses paid from the plan | $155,682 |
| Investment advisory & management fees | $41,593 |
| Benefits paid out | $5,408,525 |
| Net assets, start / end of year | $33.5M / $43.3M |
| Active participants, start / end of year | 507 / 590 |
| Participants with account balances | 983 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Aafcpas Inc. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $63,591 reported compensation |
| Prospera Financial Services | $41,593 reported compensation |
| Mazars USA LLP | $26,333 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915145002NAL0001233441001, received 2025-09-15, EIN 95-4432228, plan #008, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.