Cross Technologies Inc. 401(k) Review & Grade
Cross Technologies, Inc. 401(k) Plan
Greensboro, NCWholesale Trade654 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$0Employer $ per active participant
$5,299Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$43.5MNet plan assets, end of year
$64,230Average balance per account
Score breakdown
- Employer generosity0.5 / 501th percentile for employer $ per participant
- Low cost12.3 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving9.0 / 1560th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 1th |
| Lower admin cost | 49th |
| Employee saving | 60th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $29,712 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Cross Technologies put in about $0 per active participant, below the typical peer ($1,792). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $97 |
| Participant (employee) contributions | $3,463,065 |
| Other contributions (incl. rollovers in) | $1,371,704 |
| Administrative expenses paid from the plan | $98,887 |
| Contract administrator fees | $98,887 |
| Benefits paid out | $7,259,259 |
| Net assets, start / end of year | $40.7M / $43.5M |
| Active participants, start / end of year | 670 / 637 |
| Participants with account balances | 677 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Smith Leonard PLLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $98,887 reported compensation |
| Mma Securities LLC | $40,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250821103928NAL0002032355001, received 2025-08-21, EIN 56-0600094, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.