Ilpea Industries, Inc. 401(k) Review & Grade
Ilpea Industries 401(k) Plan
Scottsburg, INManufacturing598 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,975Employer $ per active participant
$1,761Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$40.9MNet plan assets, end of year
$64,636Average balance per account
Score breakdown
- Employer generosity21.3 / 5043th percentile for employer $ per participant
- Low cost12.2 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving1.3 / 159th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 49th |
| Employee saving | 9th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($2,110,982 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Ilpea Industries put in about $1,975 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,180,189 |
| Participant (employee) contributions | $1,052,131 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $97,660 |
| Benefits paid out | $7,350,388 |
| Net assets, start / end of year | $41.7M / $40.9M |
| Active participants, start / end of year | 618 / 577 |
| Participants with account balances | 633 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen, LLP |
Largest service providers (Schedule C)
| Newport Group, Inc. | $48,039 reported compensation |
| T Rowe Price RPS Inc | $43,738 reported compensation |
| Newport Trust Company | $5,883 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015204250NAL0002986739001, received 2025-10-15, EIN 35-1764586, plan #008, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.