Novolex Holdings, LLC 401(k) Review & Grade
Novolex Holdings, LLC 401(k) Plan
Hartsville, SCManufacturing6,272 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,360Employer $ per active participant
$4,160Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$385.3MNet plan assets, end of year
$47,921Average balance per account
Score breakdown
- Employer generosity17.1 / 5034th percentile for employer $ per participant
- Low cost8.6 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving3.9 / 1526th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 34th |
| Employee saving | 26th |
| Peers that auto-enroll | 70% |
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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
- Novolex Holdings put in about $2,360 per active participant, below the typical peer ($3,452). 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.
- Direct plan expenses (0.20% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $14,803,030 |
| Participant (employee) contributions | $26,092,299 |
| Other contributions (incl. rollovers in) | $2,842,590 |
| Administrative expenses paid from the plan | $738,138 |
| Investment advisory & management fees | $150,000 |
| Benefits paid out | $52,766,278 |
| Net assets, start / end of year | $347.7M / $385.3M |
| Active participants, start / end of year | 6,315 / 6,230 |
| Participants with account balances | 8,040 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly, US LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $568,293 reported compensation |
| Raymond James & Associates | $150,000 reported compensation |
| Baker Tilly US, LLP | $19,845 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926113436NAL0003986499001, received 2025-09-26, EIN 27-1455725, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.