Rich Products Corporation 401(k) Review & Grade
Rich's 401(k) Plan
Buffalo, NYManufacturing6,774 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,129Employer $ per active participant
$5,369Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$769.3MNet plan assets, end of year
$96,405Average balance per account
Score breakdown
- Employer generosity22.5 / 5045th percentile for employer $ per participant
- Low cost21.7 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1541th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 87th |
| Employee saving | 41th |
| 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 ($98 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Rich Products put in about $3,129 per active participant, below the typical peer ($3,452). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $21,196,895 |
| Participant (employee) contributions | $36,370,250 |
| Other contributions (incl. rollovers in) | $4,914,433 |
| Administrative expenses paid from the plan | $274,416 |
| Other admin expenses | $6,590 |
| Benefits paid out | $108,487,365 |
| Net assets, start / end of year | $721.6M / $769.3M |
| Active participants, start / end of year | 5,902 / 7,645 |
| Participants with account balances | 7,980 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Chiampou Travis Besaw &kershner LLP |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance Co | $197,177 reported compensation |
| The Vanguard Group, Inc | $105,457 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014144605NAL0001525587001, received 2025-10-14, EIN 31-1387980, plan #010, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.