Glasfloss Industries, Inc. 401(k) Review & Grade
Glasfloss Industries, Inc. 401(k) Retirement Plan
Desoto, TXManufacturing790 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$962Employer $ per active participant
$3,498Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$25.5MNet plan assets, end of year
$29,502Average balance per account
Score breakdown
- Employer generosity8.0 / 5016th percentile for employer $ per participant
- Low cost9.7 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving4.5 / 1530th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 39th |
| Employee saving | 30th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $46,122 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Glasfloss Industries put in about $962 per active participant, below the typical peer ($2,320). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $759,219 |
| Participant (employee) contributions | $2,761,997 |
| Other contributions (incl. rollovers in) | $131,456 |
| Administrative expenses paid from the plan | $76,689 |
| Contract administrator fees | $58,875 |
| Investment advisory & management fees | $9,914 |
| Other admin expenses | $7,900 |
| Benefits paid out | $3,903,099 |
| Net assets, start / end of year | $23.3M / $25.5M |
| Active participants, start / end of year | 799 / 780 |
| Participants with account balances | 864 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $66,776 reported compensation |
| Gallagher Benefit Services Inc | $22,917 reported compensation |
| Voya Retirement Advisors, LLC | $9,913 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003112158NAL0001299217001, received 2025-10-03, EIN 75-0942338, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.