Rheem Manufacturing Company 401(k) Review & Grade
Rheem Defined Contribution Plan
Atlanta, GAManufacturing3,524 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,643Employer $ per active participant
$8,092Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$469.1MNet plan assets, end of year
$106,859Average balance per account
Score breakdown
- Employer generosity37.6 / 5075th percentile for employer $ per participant
- Low cost10.1 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving10.3 / 1569th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
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 | 75th |
| Lower admin cost | 40th |
| Employee saving | 69th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($340,301 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $12,137 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Rheem Manufacturing put in about $5,643 per active participant, more than the typical peer ($3,452). 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $19,888,027 |
| Participant (employee) contributions | $28,518,996 |
| Other contributions (incl. rollovers in) | $13,891,602 |
| Administrative expenses paid from the plan | $727,714 |
| Other admin expenses | $727,714 |
| Benefits paid out | $46,471,222 |
| Net assets, start / end of year | $402.7M / $469.1M |
| Active participants, start / end of year | 3,329 / 3,720 |
| Participants with account balances | 4,390 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Carr Riggs & Ingram, LLC |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $349,944 reported compensation |
| Gallagher Fiduciary Advisors, LLC | $169,166 reported compensation |
| Vanguard Advisers Inc. | $151,591 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015080636NAL0005637296001, received 2025-10-15, EIN 20-3928590, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.