Ridgeview Industries, Inc. 401(k) Review & Grade
The Ridgeview Industries Retirement Savings Plan
Grand Rapids, MIManufacturing545 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,246Employer $ per active participant
$3,839Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$47.7MNet plan assets, end of year
$72,714Average balance per account
Score breakdown
- Employer generosity24.4 / 5049th percentile for employer $ per participant
- Low cost14.1 / 2556th percentile for low admin cost vs. same-size plans
- Employee saving5.1 / 1534th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 49th |
| Lower admin cost | 56th |
| Employee saving | 34th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,126 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ridgeview Industries put in about $2,246 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.
- 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 | $1,224,007 |
| Participant (employee) contributions | $2,092,420 |
| Other contributions (incl. rollovers in) | $875,080 |
| Administrative expenses paid from the plan | $84,504 |
| Investment advisory & management fees | $67,203 |
| Other admin expenses | $17,301 |
| Benefits paid out | $5,018,892 |
| Net assets, start / end of year | $42.7M / $47.7M |
| Active participants, start / end of year | 540 / 550 |
| Participants with account balances | 656 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Hungerford |
Largest service providers (Schedule C)
| Ampf Holding Corporation DBA Amerip | $43,750 reported compensation |
| Ameriprise Financial Inc DBA Columb | $23,453 reported compensation |
| Ridgeview Industries Inc | $17,301 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924131326NAL0017148210001, received 2025-09-24, EIN 38-2736877, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.