Fabuwood Cabinetry Corp. 401(k) Review & Grade
Fabuwood Cabinetry Corp 401(k) Profit Sharing Plan
Newark, NJManufacturing930 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$876Employer $ per active participant
$1,150Employee $ saved per active participant
0.70%Direct admin cost, % of plan assets
$9.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.9 / 5014th percentile for employer $ per participant
- Low cost3.2 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving0.6 / 154th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score14 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 13th |
| Employee saving | 4th |
| Peers that auto-enroll | 59% |
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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Fabuwood Cabinetry put in about $876 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 (0.70% 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 | $814,098 |
| Participant (employee) contributions | $1,069,119 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $61,910 |
| Investment advisory & management fees | $52,205 |
| Benefits paid out | $1,069,826 |
| Net assets, start / end of year | $7.8M / $9.8M |
| Active participants, start / end of year | 970 / 889 |
| Participants with account balances | 208 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Roth & Co |
Largest service providers (Schedule C)
| Adp, Inc. | $37,442 reported compensation |
| Global Retirement Partners | $24,467 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015090326NAL0004399489001, received 2025-10-15, EIN 26-3425323, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.