Inoac USA, Inc. 401(k) Review & Grade
Inoac USA 401(k) Savings Plan
Bardstown, KYManufacturing1,267 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,344Employer $ per active participant
$3,156Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$89.2MNet plan assets, end of year
$48,786Average balance per account
Score breakdown
- Employer generosity13.2 / 5026th percentile for employer $ per participant
- Low cost10.7 / 2543th percentile for low admin cost vs. same-size plans
- Employee saving3.7 / 1525th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 26th |
| Lower admin cost | 43th |
| Employee saving | 25th |
| 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
- Inoac USA put in about $1,344 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 | $1,702,405 |
| Participant (employee) contributions | $3,998,463 |
| Other contributions (incl. rollovers in) | $12,988 |
| Administrative expenses paid from the plan | $170,342 |
| Contract administrator fees | $148,606 |
| Benefits paid out | $7,191,656 |
| Net assets, start / end of year | $31.2M / $89.2M |
| Active participants, start / end of year | 1,389 / 1,145 |
| Participants with account balances | 1,829 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Withumsmith & Brown, PC |
Largest service providers (Schedule C)
| Ascensus LLC | $148,606 reported compensation |
| Withum Smith Brown | $21,736 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014142720NAL0004224816001, received 2025-10-14, EIN 13-3355311, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.