Buckeye Corrugated, Inc. 401(k) Review & Grade
Buckeye Corrugated, Inc. 401(k) Plan and Trust
Fairlawn, OHManufacturing843 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,887Employer $ per active participant
$4,930Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$54.6MNet plan assets, end of year
$57,657Average balance per account
Score breakdown
- Employer generosity20.2 / 5040th percentile for employer $ per participant
- Low cost12.8 / 2551th percentile for low admin cost vs. same-size plans
- Employee saving7.5 / 1550th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score48 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 40th |
| Lower admin cost | 51th |
| Employee saving | 50th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $543 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Buckeye Corrugated put in about $1,887 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.
- 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 | $1,590,941 |
| Participant (employee) contributions | $4,156,302 |
| Other contributions (incl. rollovers in) | $301,848 |
| Administrative expenses paid from the plan | $114,380 |
| Investment advisory & management fees | $40,000 |
| Benefits paid out | $6,896,130 |
| Net assets, start / end of year | $48.9M / $54.6M |
| Active participants, start / end of year | 814 / 872 |
| Participants with account balances | 947 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sikich CPA LLC |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $74,599 reported compensation |
| Cbiz Investment Advisory Servi | $40,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250717135605NAL0000201683001, received 2025-07-17, EIN 34-0831886, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.