Haier US Appliance Solutions, Inc. 401(k) Review & Grade
My Savings Plan · d/b/a GE Appliances, a Haier Company
Louisville, KYManufacturing5,658 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,935Employer $ per active participant
$9,496Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$840.2MNet plan assets, end of year
$123,523Average balance per account
Score breakdown
- Employer generosity41.9 / 5084th percentile for employer $ per participant
- Low cost16.1 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving11.5 / 1577th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 84th |
| Lower admin cost | 64th |
| Employee saving | 77th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $2,118 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Haier US Appliance Solutions put in about $6,935 per active participant, more than the typical peer ($3,452). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $39,235,758 |
| Participant (employee) contributions | $53,727,354 |
| Other contributions (incl. rollovers in) | $4,824,944 |
| Administrative expenses paid from the plan | $613,124 |
| Contract administrator fees | $1,800 |
| Investment advisory & management fees | $192,288 |
| Other admin expenses | $53,797 |
| Benefits paid out | $56,761,998 |
| Net assets, start / end of year | $701.1M / $840.2M |
| Active participants, start / end of year | 5,748 / 5,568 |
| Participants with account balances | 6,802 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $363,569 reported compensation |
| Strategic Advisors, Inc. | $192,288 reported compensation |
| Capfinancial Partners, LLC | $53,797 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924130544NAL0008696896001, received 2025-09-24, EIN 81-1692501, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.