Foley, Incorporated 401(k) Review & Grade
Foley, Incorporated 401(k) Plan
Piscataway, NJManufacturing707 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,178Employer $ per active participant
$7,203Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$123.9MNet plan assets, end of year
$162,647Average balance per account
Score breakdown
- Employer generosity32.9 / 5066th percentile for employer $ per participant
- Low cost16.1 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving11.2 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 66th |
| Lower admin cost | 65th |
| Employee saving | 75th |
| 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 ($10,651 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Foley, Incorporated put in about $3,178 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.
- 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 | $2,247,053 |
| Participant (employee) contributions | $5,092,402 |
| Other contributions (incl. rollovers in) | $631,131 |
| Administrative expenses paid from the plan | $172,987 |
| Investment advisory & management fees | $108,994 |
| Other admin expenses | $63,993 |
| Benefits paid out | $15,706,441 |
| Net assets, start / end of year | $118.0M / $123.9M |
| Active participants, start / end of year | 791 / 623 |
| Participants with account balances | 762 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cohn Reznick |
Largest service providers (Schedule C)
| Newport Capital Group LLC | $97,821 reported compensation |
| Empower Advisory Group, LLC | $11,174 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014101205NAL0005414690001, received 2025-10-14, EIN 22-0917100, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.