Draper, Inc. 401(k) Review & Grade
Draper, Inc. 401(k) Savings Plan
Spiceland, INManufacturing710 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,564Employer $ per active participant
$6,115Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$77.5MNet plan assets, end of year
$95,214Average balance per account
Score breakdown
- Employer generosity27.5 / 5055th percentile for employer $ per participant
- Low cost19.1 / 2576th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1565th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 76th |
| Employee saving | 65th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Draper put in about $2,564 per active participant, more than the typical peer ($2,320). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $1,821,488 |
| Participant (employee) contributions | $4,344,573 |
| Other contributions (incl. rollovers in) | $620,478 |
| Administrative expenses paid from the plan | $67,024 |
| Investment advisory & management fees | $5,020 |
| Other admin expenses | $32,789 |
| Benefits paid out | $7,510,742 |
| Net assets, start / end of year | $69.3M / $77.5M |
| Active participants, start / end of year | 719 / 702 |
| Participants with account balances | 814 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Katz, Sapper & Miller, LLP |
Largest service providers (Schedule C)
| Bemanaged DBA Actium LLC | $32,789 reported compensation |
| Fidelity Investments Institutional | $29,215 reported compensation |
| Strategic Advisors, Inc. | $5,020 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926100528NAL0009271025001, received 2025-09-26, EIN 35-1508822, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.