Igloo Products Corp. 401(k) Review & Grade
Igloo Products Corp. Employees' 401(k) Plan
Katy, TXManufacturing824 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,519Employer $ per active participant
$3,379Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$45.7MNet plan assets, end of year
$77,728Average balance per account
Score breakdown
- Employer generosity15.6 / 5031th percentile for employer $ per participant
- Low cost11.8 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving4.2 / 1528th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 31th |
| Lower admin cost | 47th |
| Employee saving | 28th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $12,407 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Igloo Products put in about $1,519 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 | $1,251,305 |
| Participant (employee) contributions | $2,784,386 |
| Other contributions (incl. rollovers in) | $714,351 |
| Administrative expenses paid from the plan | $107,498 |
| Investment advisory & management fees | $15,479 |
| Other admin expenses | $38,400 |
| Benefits paid out | $4,207,854 |
| Net assets, start / end of year | $40.1M / $45.7M |
| Active participants, start / end of year | 776 / 872 |
| Participants with account balances | 588 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Weaver and Tidwell LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $53,619 reported compensation |
| Prime Capital Investment Advisors | $38,400 reported compensation |
| Strategic Advisors, Inc. | $15,479 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015143456NAL0002461939001, received 2025-10-15, EIN 36-3474772, plan #305, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.