Industrial Manufacturing Company, LLC 401(k) Review & Grade
Imc Companies 401(k) & Investment Plan
Brecksville, OHManufacturing1,217 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,916Employer $ per active participant
$6,271Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$159.1MNet plan assets, end of year
$98,008Average balance per account
Score breakdown
- Employer generosity20.7 / 5041th percentile for employer $ per participant
- Low cost16.7 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving10.0 / 1567th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
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 | 41th |
| Lower admin cost | 67th |
| Employee saving | 67th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $20,961 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Industrial Manufacturing Company put in about $1,916 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.
- 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 | $2,332,273 |
| Participant (employee) contributions | $7,631,269 |
| Other contributions (incl. rollovers in) | $700,417 |
| Administrative expenses paid from the plan | $210,488 |
| Investment advisory & management fees | $75,000 |
| Benefits paid out | $21,346,289 |
| Net assets, start / end of year | $157.2M / $159.1M |
| Active participants, start / end of year | 1,300 / 1,134 |
| Participants with account balances | 1,623 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cohen & Company LTD. |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $113,063 reported compensation |
| Cbiz Investment Advisory Services | $75,000 reported compensation |
| Cohen and Company LTD | $22,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260205084117NAL0007318994001, received 2026-02-05, EIN 23-1231670, plan #001, plan year 2024-05-01 to 2025-04-30. Verify at efast.dol.gov.