Griffiths Corporation 401(k) Review & Grade
Griffiths Corporation Retirement Savings Plan
Minneapolis, MNManufacturing511 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,548Employer $ per active participant
$2,544Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$56.3MNet plan assets, end of year
$96,104Average balance per account
Score breakdown
- Employer generosity15.9 / 5032th percentile for employer $ per participant
- Low cost24.4 / 2598th percentile for low admin cost vs. same-size plans
- Employee saving2.6 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score46 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 98th |
| Employee saving | 18th |
| 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
- Griffiths put in about $1,548 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 | $790,810 |
| Participant (employee) contributions | $1,300,023 |
| Other contributions (incl. rollovers in) | $177,143 |
| Administrative expenses paid from the plan | $5,841 |
| Benefits paid out | $2,286,368 |
| Net assets, start / end of year | $50.2M / $56.3M |
| Active participants, start / end of year | 529 / 493 |
| Participants with account balances | 586 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Boyum & Barenscheer PP |
Largest service providers (Schedule C)
| Milliman, Inc. | $5,841 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260624081010NAL0009607664001, received 2026-06-24, EIN 41-0871902, plan #002, plan year 2024-10-01 to 2025-09-30. Verify at efast.dol.gov.