Nibco Inc. 401(k) Review & Grade
Nibco Inc. Profit Sharing & 401(k) Savings Plan
Elkhart, INManufacturing964 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$0Employer $ per active participant
$5,923Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$144.8MNet plan assets, end of year
$109,002Average balance per account
Score breakdown
- Employer generosity0.6 / 501th percentile for employer $ per participant
- Low cost21.5 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving9.4 / 1563th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-8 pts2 issues reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 1th |
| Lower admin cost | 86th |
| Employee saving | 63th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
Corrective distributions: the plan refunded $125,084 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Nibco put in about $0 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 | $224 |
| Participant (employee) contributions | $5,709,686 |
| Other contributions (incl. rollovers in) | $434,444 |
| Administrative expenses paid from the plan | $72,455 |
| Other admin expenses | $72,455 |
| Benefits paid out | $16,645,016 |
| Net assets, start / end of year | $125.7M / $144.8M |
| Active participants, start / end of year | 877 / 1,051 |
| Participants with account balances | 1,328 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonarsonallen LLP |
| Employer stock held by plan | $19,991,466 |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $79,205 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014084934NAL0002345569001, received 2025-10-14, EIN 35-0552560, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.