Fort Wayne Metals Research Products, LLC. 401(k) Review & Grade
Fort Wayne Metals Research Products, LLC Retirement Savings Plan
FT. Wayne, INManufacturing1,506 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,642Employer $ per active participant
$5,398Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$173.0MNet plan assets, end of year
$102,153Average balance per account
Score breakdown
- Employer generosity28.3 / 5057th percentile for employer $ per participant
- Low cost11.7 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1557th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 47th |
| Employee saving | 57th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $74 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Fort Wayne Metals Research Products put in about $2,642 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 | $3,979,344 |
| Participant (employee) contributions | $8,130,034 |
| Other contributions (incl. rollovers in) | $1,100,913 |
| Administrative expenses paid from the plan | $411,332 |
| Investment advisory & management fees | $286,985 |
| Other admin expenses | $2,637 |
| Benefits paid out | $10,011,644 |
| Net assets, start / end of year | $151.6M / $173.0M |
| Active participants, start / end of year | 1,527 / 1,485 |
| Participants with account balances | 1,694 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baden Gage and Schroeder LLC |
Largest service providers (Schedule C)
| Sym Financial Corporation | $286,985 reported compensation |
| Empower Annuity Insurance Company | $111,710 reported compensation |
| Baden Gage & Schroeder, LLC | $10,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001133556NAL0012690321001, received 2025-10-01, EIN 35-1186549, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.