Custom-Pak, Inc. 401(k) Review & Grade
Custom-Pak, Inc. Employees 401(k) Retirement Plan
Clinton, IAManufacturing724 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$872Employer $ per active participant
$1,790Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$46.5MNet plan assets, end of year
$77,944Average balance per account
Score breakdown
- Employer generosity6.8 / 5014th percentile for employer $ per participant
- Low cost22.9 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score31 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 91th |
| Employee saving | 9th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,140 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Custom-Pak put in about $872 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 | $631,506 |
| Participant (employee) contributions | $1,296,870 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $15,808 |
| Benefits paid out | $3,149,046 |
| Net assets, start / end of year | $41.6M / $46.5M |
| Active participants, start / end of year | 741 / 708 |
| Participants with account balances | 597 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Winkel, Parker & Foster |
Largest service providers (Schedule C)
| Epic Retirement Plan Services | $15,808 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010105805NAL0007557265002, received 2025-10-10, EIN 42-1022942, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.