Provia Payroll, LLC 401(k) Review & Grade
Provia 401k Plan
Sugarcreek, OHManufacturing2,021 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,400Employer $ per active participant
$5,023Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$115.4MNet plan assets, end of year
$52,152Average balance per account
Score breakdown
- Employer generosity26.0 / 5052th percentile for employer $ per participant
- Low cost11.2 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
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 | 52th |
| Lower admin cost | 45th |
| Employee saving | 52th |
| 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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Provia Payroll put in about $2,400 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 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 | $4,850,750 |
| Participant (employee) contributions | $10,150,824 |
| Other contributions (incl. rollovers in) | $685,920 |
| Administrative expenses paid from the plan | $280,773 |
| Contract administrator fees | $188,569 |
| Other admin expenses | $92,204 |
| Benefits paid out | $5,842,044 |
| Net assets, start / end of year | $93.8M / $115.4M |
| Active participants, start / end of year | 1,943 / 2,099 |
| Participants with account balances | 2,212 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Moore and Neidenthal, Inc. |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $192,551 reported compensation |
| Global Retirement Partners LLC | $146,490 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013111251NAL0002549938001, received 2025-10-13, EIN 34-1519660, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.