Printful, Inc. 401(k) Review & Grade
Printful, Inc. 401(k) Plan
Charlotte, NCManufacturing516 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,050Employer $ per active participant
$2,106Employee $ saved per active participant
0.89%Direct admin cost, % of plan assets
$5.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity9.2 / 5018th percentile for employer $ per participant
- Low cost2.0 / 258th percentile for low admin cost vs. same-size plans
- Employee saving2.0 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score3 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 18th |
| Lower admin cost | 8th |
| Employee saving | 13th |
| 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 ($205,513 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $16,723 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Printful put in about $1,050 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.
- Direct plan expenses (0.89% of assets) are well above similar-size plans (0.23%). 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 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 | $541,979 |
| Participant (employee) contributions | $1,086,621 |
| Other contributions (incl. rollovers in) | $91,149 |
| Administrative expenses paid from the plan | $28,686 |
| Investment advisory & management fees | $21,472 |
| Benefits paid out | $587,467 |
| Net assets, start / end of year | $1.1M / $5.4M |
| Active participants, start / end of year | 513 / 519 |
| Participants with account balances | 254 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Dcpas LLC DBA Davis & Company C |
Largest service providers (Schedule C)
| Merrill Lynch Pierce Fenner & Smith | $21,487 reported compensation |
| Adp, Inc. | $7,213 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010060029NAL0004017523001, received 2025-10-10, EIN 90-0674740, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.