NG Operations, LLC 401(k) Review & Grade
National Gypsum 401(k) and Retirement Savings Plan
Charlotte, NCManufacturing2,762 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,282Employer $ per active participant
$6,869Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$466.6MNet plan assets, end of year
$139,876Average balance per account
Score breakdown
- Employer generosity43.1 / 5086th percentile for employer $ per participant
- Low cost17.8 / 2571th percentile for low admin cost vs. same-size plans
- Employee saving8.7 / 1558th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 86th |
| Lower admin cost | 71th |
| Employee saving | 58th |
| Peers that auto-enroll | 70% |
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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 ($176 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $1,175 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- NG Operations put in about $7,282 per active participant, more than the typical peer ($3,452). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $20,115,715 |
| Participant (employee) contributions | $18,975,275 |
| Other contributions (incl. rollovers in) | $783,353 |
| Administrative expenses paid from the plan | $280,205 |
| Benefits paid out | $40,664,408 |
| Net assets, start / end of year | $417.2M / $466.6M |
| Active participants, start / end of year | 2,700 / 2,825 |
| Participants with account balances | 3,336 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pricewaterhousecoopers LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $280,405 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250919085753NAL0002316465001, received 2025-09-19, EIN 85-3196048, plan #075, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.