Upstate Niagara Cooperative, Inc 401(k) Review & Grade
Upstate Niagara Cooperative, Inc. Retirement Plan
Lancaster, NYManufacturing1,055 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,253Employer $ per active participant
$4,596Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$132.7MNet plan assets, end of year
$98,849Average balance per account
Score breakdown
- Employer generosity38.7 / 5077th percentile for employer $ per participant
- Low cost21.4 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving6.8 / 1545th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 86th |
| Employee saving | 45th |
| 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 ($291 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $2,048 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Upstate Niagara Cooperative put in about $4,253 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.
- 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 | $4,486,530 |
| Participant (employee) contributions | $4,848,958 |
| Other contributions (incl. rollovers in) | $1,264,439 |
| Administrative expenses paid from the plan | $69,888 |
| Benefits paid out | $13,968,594 |
| Net assets, start / end of year | $120.9M / $132.7M |
| Active participants, start / end of year | 1,003 / 1,107 |
| Participants with account balances | 1,342 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Dopkins & Company LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $69,888 reported compensation |
| Prudential Insurance Co | $34,097 reported compensation |
| Prudential Trust Co | $14,613 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251011055535NAL0013650656001, received 2025-10-11, EIN 16-0845625, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.