Haier US Appliance Solutions, Inc. 401(k) Review & Grade
My Savings Plan (union) · d/b/a GE Appliances, a Haier Company
Louisville, KYManufacturing4,568 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,080Employer $ per active participant
$4,023Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$245.5MNet plan assets, end of year
$47,479Average balance per account
Score breakdown
- Employer generosity22.3 / 5045th percentile for employer $ per participant
- Low cost8.5 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving3.7 / 1525th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 34th |
| Employee saving | 25th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $11,696 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Haier US Appliance Solutions put in about $3,080 per active participant, below the typical peer ($3,452). 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.
- Direct plan expenses (0.20% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $14,072,207 |
| Participant (employee) contributions | $18,381,083 |
| Other contributions (incl. rollovers in) | $672,987 |
| Administrative expenses paid from the plan | $464,644 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $49,529 |
| Other admin expenses | $16,123 |
| Benefits paid out | $21,502,822 |
| Net assets, start / end of year | $210.9M / $245.5M |
| Active participants, start / end of year | 4,578 / 4,559 |
| Participants with account balances | 5,171 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $356,907 reported compensation |
| Strategic Advisors, Inc. | $49,529 reported compensation |
| Thompson Hine LLP | $40,556 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924131715NAL0003036243001, received 2025-09-24, EIN 81-1692501, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.