Croell, Inc. 401(k) Review & Grade
Croell, Inc. 401(k) Plan
New Hampton, IAManufacturing996 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,118Employer $ per active participant
$4,365Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$50.7MNet plan assets, end of year
$42,275Average balance per account
Score breakdown
- Employer generosity9.9 / 5020th percentile for employer $ per participant
- Low cost9.3 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving6.3 / 1542th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 37th |
| Employee saving | 42th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,505 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Croell put in about $1,118 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 | $1,113,033 |
| Participant (employee) contributions | $4,347,062 |
| Other contributions (incl. rollovers in) | $442,460 |
| Administrative expenses paid from the plan | $152,549 |
| Contract administrator fees | $145,628 |
| Investment advisory & management fees | $6,921 |
| Benefits paid out | $2,641,501 |
| Net assets, start / end of year | $41.8M / $50.7M |
| Active participants, start / end of year | 939 / 1,053 |
| Participants with account balances | 1,199 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bergankdv, LTD |
Largest service providers (Schedule C)
| John Hancock Retirement Plan | $152,548 reported compensation |
| L.m.kohn & Company | $58,547 reported compensation |
| Paradigm Benefits LLC | $27,415 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250827090302NAL0009400529001, received 2025-08-27, EIN 42-1029170, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.