Electric Glass Fiber America, LLC 401(k) Review & Grade
Electric Glass Fiber America, LLC 401(k) Plan
Shelby, NCInformation573 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,710Employer $ per active participant
$4,887Employee $ saved per active participant
0.35%Direct admin cost, % of plan assets
$52.8MNet plan assets, end of year
$78,297Average balance per account
Score breakdown
- Employer generosity39.5 / 5079th percentile for employer $ per participant
- Low cost8.9 / 2536th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 79th |
| Lower admin cost | 36th |
| Employee saving | 20th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $93,734 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Electric Glass Fiber America put in about $4,710 per active participant, more than the typical peer ($2,829). 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.
- Direct plan expenses (0.35% 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.
- 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 | $2,698,895 |
| Participant (employee) contributions | $2,800,066 |
| Other contributions (incl. rollovers in) | $232,118 |
| Administrative expenses paid from the plan | $183,913 |
| Contract administrator fees | $141,278 |
| Other admin expenses | $26,635 |
| Benefits paid out | $12,473,560 |
| Net assets, start / end of year | $53.2M / $52.8M |
| Active participants, start / end of year | 635 / 511 |
| Participants with account balances | 674 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Elliott Group Cpas, PLLC |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $141,278 reported compensation |
| Mercer Investments LLC | $26,635 reported compensation |
| Elliott Group Cpas LLC | $16,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010083501NAL0007813617001, received 2025-10-10, EIN 56-2109195, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.