New-Indy Containerboard, LLC 401(k) Review & Grade
New Indy Container Board Packaging 401(k) Retirement Plan
Ontario, CAManufacturing1,070 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,360Employer $ per active participant
$3,900Employee $ saved per active participant
0.39%Direct admin cost, % of plan assets
$56.2MNet plan assets, end of year
$47,575Average balance per account
Score breakdown
- Employer generosity25.6 / 5051th percentile for employer $ per participant
- Low cost7.9 / 2532th percentile for low admin cost vs. same-size plans
- Employee saving5.2 / 1535th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 32th |
| Employee saving | 35th |
| 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
- New-Indy Containerboard put in about $2,360 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.
- Direct plan expenses (0.39% of assets) are well above similar-size plans (0.23%). 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 | $2,524,341 |
| Participant (employee) contributions | $4,170,997 |
| Other contributions (incl. rollovers in) | $202,044 |
| Administrative expenses paid from the plan | $203,155 |
| Contract administrator fees | $158,155 |
| Investment advisory & management fees | $45,000 |
| Benefits paid out | $6,187,945 |
| Net assets, start / end of year | $49.3M / $56.2M |
| Active participants, start / end of year | 1,115 / 1,024 |
| Participants with account balances | 1,182 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Miller Kaplan Arase LLP |
Largest service providers (Schedule C)
| John Hancock Retirement Plan Srvs | $158,155 reported compensation |
| Sageview Advisors | $45,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014162709NAL0003282833001, received 2025-10-14, EIN 61-1685759, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.