Fareva Richmond, Inc 401(k) Review & Grade
Fareva US Savings Plan 001
Henrico, VAManufacturing605 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,140Employer $ per active participant
$4,350Employee $ saved per active participant
0.55%Direct admin cost, % of plan assets
$35.7MNet plan assets, end of year
$59,920Average balance per account
Score breakdown
- Employer generosity23.1 / 5046th percentile for employer $ per participant
- Low cost5.0 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving6.3 / 1542th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 20th |
| Employee saving | 42th |
| 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
- Fareva Richmond put in about $2,140 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 (0.55% 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 | $1,294,788 |
| Participant (employee) contributions | $2,631,588 |
| Other contributions (incl. rollovers in) | $404,612 |
| Administrative expenses paid from the plan | $187,566 |
| Investment advisory & management fees | $85,545 |
| Benefits paid out | $4,670,511 |
| Net assets, start / end of year | $32.1M / $35.7M |
| Active participants, start / end of year | 682 / 528 |
| Participants with account balances | 595 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Brown Edwards & Company LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $102,020 reported compensation |
| Benefit Fiduciary Group LLC | $85,544 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250812051100NAL0007650321001, received 2025-08-12, EIN 45-3125558, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.