Consolidated Precision Products 401(k) Review & Grade
Consolidated Precision Products Corp Retirement and Savings Plan
Cleveland, OHManufacturing3,372 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,684Employer $ per active participant
$3,841Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$176.9MNet plan assets, end of year
$49,653Average balance per account
Score breakdown
- Employer generosity10.8 / 5022th percentile for employer $ per participant
- Low cost5.0 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving3.4 / 1523th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 22th |
| Lower admin cost | 20th |
| Employee saving | 23th |
| Peers that auto-enroll | 70% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $75,068 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Consolidated Precision Products put in about $1,684 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 (0.33% 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 | $5,676,119 |
| Participant (employee) contributions | $12,951,252 |
| Other contributions (incl. rollovers in) | $1,336,776 |
| Administrative expenses paid from the plan | $559,448 |
| Investment advisory & management fees | $146,909 |
| Other admin expenses | $154,746 |
| Benefits paid out | $24,842,103 |
| Net assets, start / end of year | $159.8M / $176.9M |
| Active participants, start / end of year | 3,008 / 3,735 |
| Participants with account balances | 3,562 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bober Markey Fedorovich |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $239,543 reported compensation |
| Cbiz Investment Advisory Services L | $146,909 reported compensation |
| Bober Markey Fedorovich & Company | $18,250 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014083454NAL0001130419001, received 2025-10-14, EIN 34-1916104, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.