Derrick Corporation 401(k) Review & Grade
Derrick Corporation Profit Sharing Plan
Buffalo, NYManufacturing614 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,832Employer $ per active participant
$7,119Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$95.6MNet plan assets, end of year
$122,053Average balance per account
Score breakdown
- Employer generosity19.4 / 5039th percentile for employer $ per participant
- Low cost17.2 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving11.1 / 1574th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 69th |
| Employee saving | 74th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Derrick put in about $1,832 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.
- 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 | $1,125,000 |
| Participant (employee) contributions | $4,371,059 |
| Other contributions (incl. rollovers in) | $271,956 |
| Administrative expenses paid from the plan | $110,889 |
| Investment advisory & management fees | $164,403 |
| Benefits paid out | $8,168,837 |
| Net assets, start / end of year | $84.2M / $95.6M |
| Active participants, start / end of year | 611 / 617 |
| Participants with account balances | 783 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Jeffrey L. Offhaus, CPA, LLC |
Largest service providers (Schedule C)
| Ameriprise Financial Services Inc | $164,403 reported compensation |
| Fidelity Investments Institutional | −$53,514 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915141206NAL0003143874001, received 2025-09-15, EIN 16-0847196, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.