The Okonite Company Inc. 401(k) Review & Grade
The Okonite Company 401(k) Savings Plan
Ramsey, NJManufacturing728 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,424Employer $ per active participant
$7,181Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$86.6MNet plan assets, end of year
$102,982Average balance per account
Score breakdown
- Employer generosity14.3 / 5029th percentile for employer $ per participant
- Low cost23.1 / 2592th percentile for low admin cost vs. same-size plans
- Employee saving11.2 / 1575th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 29th |
| Lower admin cost | 92th |
| Employee saving | 75th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Okonite Company put in about $1,424 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.
- 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 | $1,036,766 |
| Participant (employee) contributions | $5,228,065 |
| Other contributions (incl. rollovers in) | $320,129 |
| Administrative expenses paid from the plan | $25,627 |
| Investment advisory & management fees | $2,446 |
| Benefits paid out | $7,656,950 |
| Net assets, start / end of year | $75.8M / $86.6M |
| Active participants, start / end of year | 729 / 727 |
| Participants with account balances | 841 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohn Reznick LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $23,181 reported compensation |
| Charles Schwab & Co, Inc. | $401 reported compensation |
| Mid Atlantic Capital Corporation | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925100018NAL0003459107001, received 2025-09-25, EIN 22-2279445, plan #401, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.