Grain Craft, LLC 401(k) Review & Grade
Grain Craft 401(k) Plan
Chattanooga, TNManufacturing536 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,144Employer $ per active participant
$6,193Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$72.6MNet plan assets, end of year
$126,700Average balance per account
Score breakdown
- Employer generosity38.2 / 5076th percentile for employer $ per participant
- Low cost14.3 / 2557th percentile for low admin cost vs. same-size plans
- Employee saving9.9 / 1566th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score55 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 57th |
| Employee saving | 66th |
| 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 ($209,508 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
- Grain Craft put in about $4,144 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 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 | $2,221,142 |
| Participant (employee) contributions | $3,319,674 |
| Other contributions (incl. rollovers in) | $277,133 |
| Administrative expenses paid from the plan | $124,654 |
| Contract administrator fees | $83,443 |
| Investment advisory & management fees | $41,211 |
| Benefits paid out | $6,124,672 |
| Net assets, start / end of year | $63.6M / $72.6M |
| Active participants, start / end of year | 460 / 612 |
| Participants with account balances | 573 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Allen, Gibbs & Houlik, L.C. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $83,443 reported compensation |
| Investment Research and | $41,221 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250721141707NAL0000649955001, received 2025-07-21, EIN 58-1920393, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.