Form Technologies, Inc. 401(k) Review & Grade
Form Technologies 401(k) Plan
Charlotte, NCManufacturing1,180 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,938Employer $ per active participant
$5,067Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$159.0MNet plan assets, end of year
$126,412Average balance per account
Score breakdown
- Employer generosity31.1 / 5062th percentile for employer $ per participant
- Low cost18.9 / 2576th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 76th |
| Employee saving | 52th |
| 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
- Form Technologies put in about $2,938 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 | $3,465,265 |
| Participant (employee) contributions | $5,977,033 |
| Other contributions (incl. rollovers in) | $106,303 |
| Administrative expenses paid from the plan | $142,715 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $30,000 |
| Benefits paid out | $15,347,915 |
| Net assets, start / end of year | $146.7M / $159.0M |
| Active participants, start / end of year | 1,109 / 1,250 |
| Participants with account balances | 1,258 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $112,715 reported compensation |
| Kestra Investment Services LLC | $30,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009120858NAL0015460386001, received 2025-10-09, EIN 90-0728033, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.