North Atlantic Corp. 401(k) Review & Grade
North Atlantic Corp. 401(k) Profit Sharing Plan and Trust
Somerset, MAWholesale Trade664 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,225Employer $ per active participant
$4,905Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$50.1MNet plan assets, end of year
$69,339Average balance per account
Score breakdown
- Employer generosity15.9 / 5032th percentile for employer $ per participant
- Low cost15.8 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving8.1 / 1554th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 63th |
| Employee saving | 54th |
| Peers that auto-enroll | 53% |
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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
- North Atlantic put in about $1,225 per active participant, below the typical peer ($1,792). 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.
- 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 | $813,030 |
| Participant (employee) contributions | $3,254,462 |
| Other contributions (incl. rollovers in) | $75,135 |
| Administrative expenses paid from the plan | $71,165 |
| Investment advisory & management fees | $19,192 |
| Benefits paid out | $3,395,483 |
| Net assets, start / end of year | $44.3M / $50.1M |
| Active participants, start / end of year | 647 / 680 |
| Participants with account balances | 723 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $51,973 reported compensation |
| Strategic Advisors, Inc. | $19,192 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250918084230NAL0001505616001, received 2025-09-18, EIN 04-3173943, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.