The Knapheide Manufacturing Company 401(k) Review & Grade
The Knapheide Manufacturing Company 401(k) Cash Deferred Plan
Quincy, ILManufacturing1,644 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,091Employer $ per active participant
$4,022Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$175.4MNet plan assets, end of year
$86,964Average balance per account
Score breakdown
- Employer generosity41.7 / 5083th percentile for employer $ per participant
- Low cost15.3 / 2561th percentile for low admin cost vs. same-size plans
- Employee saving5.5 / 1537th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 61th |
| Employee saving | 37th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $10,120 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Knapheide Manufacturing put in about $5,091 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.
- 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 | $8,368,948 |
| Participant (employee) contributions | $6,612,722 |
| Other contributions (incl. rollovers in) | $361,792 |
| Administrative expenses paid from the plan | $258,612 |
| Contract administrator fees | $249,349 |
| Investment advisory & management fees | $9,263 |
| Benefits paid out | $11,259,886 |
| Net assets, start / end of year | $149.4M / $175.4M |
| Active participants, start / end of year | 1,600 / 1,688 |
| Participants with account balances | 2,017 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Gray Hunter Stenn LLP |
Largest service providers (Schedule C)
| Ascensus LLC | $249,349 reported compensation |
| Merrill Lynch Retirement & Benefit | $9,263 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010102142NAL0018217714001, received 2025-10-10, EIN 37-0368620, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.