Teknor Apex Company 401(k) Review & Grade
Teknor Savings Plus Plan
Pawtucket, RIManufacturing1,678 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,264Employer $ per active participant
$7,141Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$273.4MNet plan assets, end of year
$139,188Average balance per account
Score breakdown
- Employer generosity38.8 / 5078th percentile for employer $ per participant
- Low cost14.8 / 2559th percentile for low admin cost vs. same-size plans
- Employee saving11.1 / 1574th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score75 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 59th |
| Employee saving | 74th |
| 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
- Teknor Apex put in about $4,264 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 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 | $7,157,632 |
| Participant (employee) contributions | $11,986,609 |
| Other contributions (incl. rollovers in) | $2,017,209 |
| Administrative expenses paid from the plan | $445,868 |
| Contract administrator fees | $309,335 |
| Investment advisory & management fees | $83,167 |
| Benefits paid out | $23,482,981 |
| Net assets, start / end of year | $243.3M / $273.4M |
| Active participants, start / end of year | 1,676 / 1,681 |
| Participants with account balances | 1,964 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $309,335 reported compensation |
| Lockbox Sageview Advisor | $83,240 reported compensation |
| Marcum LLP | $53,366 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250829123711NAL0006208483001, received 2025-08-29, EIN 05-0306609, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.