Ritz-Craft Corporation of Pennsylvania, Inc. 401(k) Review & Grade
Ritz-Craft Corporation Profit Sharing Retirement Plan
Mifflinburg, PAManufacturing604 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$654Employer $ per active participant
$1,821Employee $ saved per active participant
0.67%Direct admin cost, % of plan assets
$19.8MNet plan assets, end of year
$27,378Average balance per account
Score breakdown
- Employer generosity4.8 / 5010th percentile for employer $ per participant
- Low cost3.6 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 1510th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score7 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 10th |
| Lower admin cost | 14th |
| Employee saving | 10th |
| Peers that auto-enroll | 59% |
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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 ($299,480 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $45,650 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ritz-Craft Corporation of Pennsylvania put in about $654 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.
- Direct plan expenses (0.67% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $395,415 |
| Participant (employee) contributions | $1,100,573 |
| Other contributions (incl. rollovers in) | $41,513 |
| Administrative expenses paid from the plan | $127,800 |
| Investment advisory & management fees | $55,721 |
| Other admin expenses | $3,154 |
| Benefits paid out | $2,263,035 |
| Net assets, start / end of year | $18.5M / $19.8M |
| Active participants, start / end of year | 574 / 635 |
| Participants with account balances | 724 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Larson, Kellett & Associates, P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $68,925 reported compensation |
| Morganstanleysmithbarneyllc | $55,721 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010100609NAL0007485505001, received 2025-10-10, EIN 23-1984836, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.