US Farathane, LLC 401(k) Review & Grade
US Farathane, LLC 401(k) Plan
Auburn Hills, MIManufacturing3,583 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$681Employer $ per active participant
$2,385Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$86.4MNet plan assets, end of year
$21,116Average balance per account
Score breakdown
- Employer generosity3.7 / 507th percentile for employer $ per participant
- Low cost6.2 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving1.6 / 1511th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score19 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 7th |
| Lower admin cost | 25th |
| Employee saving | 11th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $71,556 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- US Farathane put in about $681 per active participant, below the typical peer ($3,452). 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.
- Direct plan expenses (0.28% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $2,439,065 |
| Participant (employee) contributions | $8,544,211 |
| Other contributions (incl. rollovers in) | $1,856,054 |
| Administrative expenses paid from the plan | $229,869 |
| Benefits paid out | $11,108,561 |
| Net assets, start / end of year | $76.6M / $86.4M |
| Active participants, start / end of year | 3,658 / 3,508 |
| Participants with account balances | 4,092 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $211,369 reported compensation |
| Plante Moran PLLC | $18,500 reported compensation |
| Charles Schwab & Co., Inc | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250905083434NAL0028598240001, received 2025-09-05, EIN 46-3221181, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.