The Gorman-Rupp Company 401(k) Review & Grade
The Gorman-Rupp Company 401k Plan
Mansfield, OHManufacturing1,308 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,695Employer $ per active participant
$5,038Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$122.6MNet plan assets, end of year
$84,195Average balance per account
Score breakdown
- Employer generosity35.5 / 5071th percentile for employer $ per participant
- Low cost18.5 / 2574th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 71th |
| Lower admin cost | 74th |
| Employee saving | 52th |
| 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
- Gorman-Rupp put in about $3,695 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 | $4,834,285 |
| Participant (employee) contributions | $6,592,622 |
| Other contributions (incl. rollovers in) | $324,259 |
| Administrative expenses paid from the plan | $110,601 |
| Other admin expenses | $81,624 |
| Benefits paid out | $9,429,155 |
| Net assets, start / end of year | $97.5M / $122.6M |
| Active participants, start / end of year | 1,339 / 1,278 |
| Participants with account balances | 1,456 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Meaden & Moore |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $28,977 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250709124049NAL0008092816001, received 2025-07-09, EIN 34-0253990, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.