Nord Gear Corporation 401(k) Review & Grade
Nord Gear Corporation 401(k) Profit Sharing Plan
Waunakee, WIManufacturing512 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,924Employer $ per active participant
$4,998Employee $ saved per active participant
0.35%Direct admin cost, % of plan assets
$42.2MNet plan assets, end of year
$71,465Average balance per account
Score breakdown
- Employer generosity20.8 / 5042th percentile for employer $ per participant
- Low cost8.8 / 2535th percentile for low admin cost vs. same-size plans
- Employee saving7.7 / 1552th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score47 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 42th |
| Lower admin cost | 35th |
| Employee saving | 52th |
| 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
- Nord Gear put in about $1,924 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.
- Direct plan expenses (0.35% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $985,960 |
| Participant (employee) contributions | $2,561,431 |
| Other contributions (incl. rollovers in) | $402,202 |
| Administrative expenses paid from the plan | $138,546 |
| Contract administrator fees | $20,209 |
| Benefits paid out | $4,364,714 |
| Net assets, start / end of year | $37.2M / $42.2M |
| Active participants, start / end of year | 520 / 505 |
| Participants with account balances | 590 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wipfli LLP |
Largest service providers (Schedule C)
| Denali Weath Management | $59,623 reported compensation |
| Empower Annuity Ins. Co. of America | $44,053 reported compensation |
| Blue Chip Retirement Plans, Inc. | $27,575 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250825163653NAL0007813777001, received 2025-08-25, EIN 39-1337261, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.