Ideal Clamp Products, Inc. 401(k) Review & Grade
Ideal Clamp Products 401(k) Plan
Smyrna, TNManufacturing683 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,427Employer $ per active participant
$4,328Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$50.3MNet plan assets, end of year
$62,926Average balance per account
Score breakdown
- Employer generosity26.2 / 5052th percentile for employer $ per participant
- Low cost11.4 / 2546th percentile for low admin cost vs. same-size plans
- Employee saving6.3 / 1542th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 52th |
| Lower admin cost | 46th |
| 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
- Ideal Clamp Products put in about $2,427 per active participant, more than the typical peer ($2,320). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,657,328 |
| Participant (employee) contributions | $2,955,766 |
| Other contributions (incl. rollovers in) | $37,403 |
| Administrative expenses paid from the plan | $122,712 |
| Contract administrator fees | $99,244 |
| Benefits paid out | $3,784,462 |
| Net assets, start / end of year | $43.9M / $50.3M |
| Active participants, start / end of year | 662 / 704 |
| Participants with account balances | 799 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Tri-Ad Actuaries, Inc. | $99,244 reported compensation |
| Tri-Ad Capital Management, Inc. | $23,468 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013122721NAL0000603187001, received 2025-10-13, EIN 62-1051193, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.