Daechang Seat Co., LTD USA 401(k) Review & Grade
Daechang Seat Company 401k Plan
Indianapolis, INManufacturing538 active participantsPlan year 2024
Estimate from the plan's Form 5500-SF filing · How we grade
$86Employer $ per active participant
$321Employee $ saved per active participant
0.97%Direct admin cost, % of plan assets
$934,914Net plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity1.2 / 502th percentile for employer $ per participant
- Low cost1.7 / 257th percentile for low admin cost vs. same-size plans
- Employee saving0.1 / 151th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score3 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 2th |
| Lower admin cost | 7th |
| Employee saving | 1th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,732 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Daechang Seat Co., LTD USA put in about $86 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.
- Direct plan expenses (0.97% of assets) are well above similar-size plans (0.23%). 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.
- 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 | $46,372 |
| Participant (employee) contributions | $173,007 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $8,741 |
| Benefits paid out | $240,511 |
| Net assets, start / end of year | $864,684 / $934,914 |
| Active participants, start / end of year | 549 / 528 |
| Participants with account balances | 73 |
| Auto-enrollment (feature code 2S) | Not reported |
Source: DOL EFAST2 Form 5500-SF filing, acknowledgment ID 20251015114351NAL0004749281001, received 2025-10-15, EIN 81-4620929, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.