Terran Orbital Corporation 401(k) Review & Grade
Terran Orbital Corporation 401(k) Profit Sharing Plan & Trust
Boca Raton, FLOther Services572 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,472Employer $ per active participant
$10,287Employee $ saved per active participant
0.34%Direct admin cost, % of plan assets
$22.2MNet plan assets, end of year
$36,259Average balance per account
Score breakdown
- Employer generosity44.0 / 5088th percentile for employer $ per participant
- Low cost9.1 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving14.2 / 1595th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 37th |
| Employee saving | 95th |
| Peers that auto-enroll | 40% |
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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 ($75,936 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $18,274 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Terran Orbital put in about $4,472 per active participant, more than the typical peer ($1,257). 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 | $2,560,231 |
| Participant (employee) contributions | $5,889,120 |
| Other contributions (incl. rollovers in) | $1,267,563 |
| Administrative expenses paid from the plan | $63,291 |
| Contract administrator fees | $62,221 |
| Investment advisory & management fees | $210 |
| Benefits paid out | $5,578,302 |
| Net assets, start / end of year | $15.4M / $22.2M |
| Active participants, start / end of year | 620 / 525 |
| Participants with account balances | 613 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Paychex, Inc. | $43,166 reported compensation |
| Erisa Fiduciary Services, Inc. | $7,965 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014075745NAL0001092883001, received 2025-10-14, EIN 47-3509064, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.