Cirrus Design Corporation 401(k) Review & Grade
Cirrus Design Corporation 401(k) Plan
Duluth, MNManufacturing2,557 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,256Employer $ per active participant
$5,368Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$162.2MNet plan assets, end of year
$61,151Average balance per account
Score breakdown
- Employer generosity23.7 / 5047th percentile for employer $ per participant
- Low cost16.3 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1541th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 65th |
| Employee saving | 41th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $918 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Cirrus Design put in about $3,256 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.
- 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 | $8,324,619 |
| Participant (employee) contributions | $13,725,373 |
| Other contributions (incl. rollovers in) | $2,214,308 |
| Administrative expenses paid from the plan | $114,968 |
| Investment advisory & management fees | $102,458 |
| Other admin expenses | $10 |
| Benefits paid out | $13,658,419 |
| Net assets, start / end of year | $133.1M / $162.2M |
| Active participants, start / end of year | 2,460 / 2,654 |
| Participants with account balances | 2,652 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wipfli LLP |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $102,468 reported compensation |
| Alliant Insurance Services Inc DBA | $101,985 reported compensation |
| Wipfli LLP | $12,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014053928NAL0003203344001, received 2025-10-14, EIN 39-1578274, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.