Palmer-Donavin Manufacturing Company 401(k) Review & Grade
The Palmer-Donavin Retirement Plan
Grove City, OHWholesale Trade582 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,447Employer $ per active participant
$6,057Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$53.9MNet plan assets, end of year
$76,022Average balance per account
Score breakdown
- Employer generosity19.4 / 5039th percentile for employer $ per participant
- Low cost12.4 / 2550th percentile for low admin cost vs. same-size plans
- Employee saving10.3 / 1568th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 50th |
| Employee saving | 68th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $18,553 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Palmer-Donavin Manufacturing put in about $1,447 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.
- 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 | $841,576 |
| Participant (employee) contributions | $3,522,370 |
| Other contributions (incl. rollovers in) | $337,349 |
| Administrative expenses paid from the plan | $121,634 |
| Other admin expenses | $121,634 |
| Benefits paid out | $8,325,549 |
| Net assets, start / end of year | $51.2M / $53.9M |
| Active participants, start / end of year | 577 / 586 |
| Participants with account balances | 709 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Scheinder Downs and Co. Inc |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $70,807 reported compensation |
| Highland Consulting Associates | $38,000 reported compensation |
| Vanguard Advisers Inc. | $15,072 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015125036NAL0006143056001, received 2025-10-15, EIN 31-4274980, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.