Ohio Gratings, Inc. 401(k) Review & Grade
Ohio Gratings, Inc. 401k Profit Sharing Plan
Canton, OHManufacturing787 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,034Employer $ per active participant
$4,468Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$56.4MNet plan assets, end of year
$54,827Average balance per account
Score breakdown
- Employer generosity41.5 / 5083th percentile for employer $ per participant
- Low cost11.9 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 48th |
| Employee saving | 44th |
| 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 ($110,858 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
- Ohio Gratings put in about $5,034 per active participant, more than the typical peer ($2,320). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 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 | $3,961,466 |
| Participant (employee) contributions | $3,515,976 |
| Other contributions (incl. rollovers in) | $2,603,358 |
| Administrative expenses paid from the plan | $127,541 |
| Contract administrator fees | $127,541 |
| Benefits paid out | $5,906,248 |
| Net assets, start / end of year | $46.4M / $56.4M |
| Active participants, start / end of year | 783 / 791 |
| Participants with account balances | 1,028 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | 415 Group, Inc. |
Largest service providers (Schedule C)
| T. Rowe Price Retirement Plan Servi | $53,570 reported compensation |
| Bruton Chisnell Advisors LLC | $38,181 reported compensation |
| Trinity Pension Consultants, Inc. | $34,380 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015141431NAL0004796113001, received 2025-10-15, EIN 34-1054715, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.