Overhead Door Corporation 401(k) Review & Grade
Overhead Door Corporation Retirement Savings Plan
Lewisville, TXManufacturing3,240 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,179Employer $ per active participant
$4,382Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$293.4MNet plan assets, end of year
$74,252Average balance per account
Score breakdown
- Employer generosity23.1 / 5046th percentile for employer $ per participant
- Low cost10.5 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving4.4 / 1529th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score48 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 42th |
| Employee saving | 29th |
| Peers that auto-enroll | 70% |
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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
- Overhead Door put in about $3,179 per active participant, below the typical peer ($3,452). 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 | $10,302,029 |
| Participant (employee) contributions | $14,200,655 |
| Other contributions (incl. rollovers in) | $3,359,912 |
| Administrative expenses paid from the plan | $436,819 |
| Investment advisory & management fees | $111,646 |
| Benefits paid out | $28,122,795 |
| Net assets, start / end of year | $258.0M / $293.4M |
| Active participants, start / end of year | 3,195 / 3,286 |
| Participants with account balances | 3,952 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $272,529 reported compensation |
| Fiducient Advisors LLC | $111,646 reported compensation |
| Grant Thornton LLP | $32,778 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014164731NAL0003322433001, received 2025-10-14, EIN 35-0564120, plan #022, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.