Oliver Healthcare Packaging Company 401(k) Review & Grade
Oliver Healthcare Packaging Company 401(k) Retirement Plan
Grand Rapids, MIManufacturing1,125 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,017Employer $ per active participant
$5,433Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$95.9MNet plan assets, end of year
$77,649Average balance per account
Score breakdown
- Employer generosity31.7 / 5063th percentile for employer $ per participant
- Low cost21.1 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving8.7 / 1558th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score55 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 63th |
| Lower admin cost | 84th |
| Employee saving | 58th |
| Peers that auto-enroll | 59% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($112 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Oliver Healthcare Packaging put in about $3,017 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.
- 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 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 | $3,393,715 |
| Participant (employee) contributions | $6,112,259 |
| Other contributions (incl. rollovers in) | $959,165 |
| Administrative expenses paid from the plan | $57,047 |
| Contract administrator fees | $1,500 |
| Investment advisory & management fees | $56,613 |
| Benefits paid out | $7,749,297 |
| Net assets, start / end of year | $94.3M / $95.9M |
| Active participants, start / end of year | 1,208 / 1,042 |
| Participants with account balances | 1,235 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Mma Securities | $41,201 reported compensation |
| Strategic Advisors, Inc. | $15,412 reported compensation |
| Fidelity Investments Institutional | $434 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009141357NAL0006705217001, received 2025-10-09, EIN 38-2363773, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.