Rea Magnet Wire Company, Inc. 401(k) Review & Grade
Rea Magnet Wire Company, Inc. Employees' Retirement Savings Plan
Fort Wayne, INManufacturing549 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,188Employer $ per active participant
$6,190Employee $ saved per active participant
0.00%Direct admin cost, % of plan assets
$87.4MNet plan assets, end of year
$119,703Average balance per account
Score breakdown
- Employer generosity38.4 / 5077th percentile for employer $ per participant
- Low cost24.7 / 2599th percentile for low admin cost vs. same-size plans
- Employee saving9.9 / 1566th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 99th |
| Employee saving | 66th |
| 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
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Rea Magnet Wire Company put in about $4,188 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.
- 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 | $2,299,220 |
| Participant (employee) contributions | $3,398,296 |
| Other contributions (incl. rollovers in) | $228,411 |
| Administrative expenses paid from the plan | $4,018 |
| Contract administrator fees | $1,200 |
| Investment advisory & management fees | $25,598 |
| Benefits paid out | $8,678,146 |
| Net assets, start / end of year | $78.6M / $87.4M |
| Active participants, start / end of year | 517 / 581 |
| Participants with account balances | 730 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $25,598 reported compensation |
| Fidelity Investments Institutional | −$21,580 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014115823NAL0003860976001, received 2025-10-14, EIN 35-0602855, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.