Solmax Geosynthetics, LLC 401(k) Review & Grade
Solmax Geosynthetics 401(k) Plan
Pendergrass, GAManufacturing584 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,974Employer $ per active participant
$5,617Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$87.9MNet plan assets, end of year
$96,715Average balance per account
Score breakdown
- Employer generosity31.4 / 5063th percentile for employer $ per participant
- Low cost20.5 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving9.0 / 1560th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 63th |
| Lower admin cost | 82th |
| Employee saving | 60th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $11,719 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Solmax Geosynthetics put in about $2,974 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.
- 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 | $1,738,132 |
| Participant (employee) contributions | $3,283,080 |
| Other contributions (incl. rollovers in) | $348,079 |
| Administrative expenses paid from the plan | $50,583 |
| Investment advisory & management fees | $766 |
| Benefits paid out | $9,091,536 |
| Net assets, start / end of year | $59.4M / $87.9M |
| Active participants, start / end of year | 470 / 699 |
| Participants with account balances | 909 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Jason Underwood CPA, PLLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $48,109 reported compensation |
| Empower Advisory Group, LLC | $766 reported compensation |
| Matrix Trust Company | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014101830NAL0002602769001, received 2025-10-14, EIN 76-0101539, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.