Plasman Corp. LLC 401(k) Review & Grade
A.p. Plasman Employee 401(k) Plan
Fort Payne, ALManufacturing1,021 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$786Employer $ per active participant
$1,520Employee $ saved per active participant
0.59%Direct admin cost, % of plan assets
$15.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.1 / 5012th percentile for employer $ per participant
- Low cost4.5 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving1.1 / 157th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 18th |
| Employee saving | 7th |
| 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
- Plasman Corp. put in about $786 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 (0.59% 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.
- 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 | $802,054 |
| Participant (employee) contributions | $1,551,956 |
| Other contributions (incl. rollovers in) | $108,601 |
| Administrative expenses paid from the plan | $117,687 |
| Contract administrator fees | $113,937 |
| Benefits paid out | $3,378,368 |
| Net assets, start / end of year | $25.1M / $15.0M |
| Active participants, start / end of year | 976 / 1,066 |
| Participants with account balances | 462 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Trailbreaker Accounting PLLC |
Largest service providers (Schedule C)
| Orenda Retirement, LLC | $107,014 reported compensation |
| Principal Life Insurance Company | $18,349 reported compensation |
| Side by Side Financials, Inc. | $7,676 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013100403NAL0000456019001, received 2025-10-13, EIN 27-2166085, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.