U.S. Tool Grinding, Inc. 401(k) Review & Grade
U.S. Tool Grinding, Inc. Employees Profit Sharing Plan
Farmington, MOOther Services906 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,126Employer $ per active participant
$2,703Employee $ saved per active participant
0.52%Direct admin cost, % of plan assets
$34.1MNet plan assets, end of year
$29,665Average balance per account
Score breakdown
- Employer generosity22.9 / 5046th percentile for employer $ per participant
- Low cost5.5 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 22th |
| Employee saving | 52th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
Corrective distributions: the plan refunded $23,074 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- U.S. Tool Grinding put in about $1,126 per active participant, below the typical peer ($1,257). 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 (0.52% 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.
- 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 | $1,020,090 |
| Participant (employee) contributions | $2,449,358 |
| Other contributions (incl. rollovers in) | $377,412 |
| Administrative expenses paid from the plan | $167,683 |
| Investment advisory & management fees | $3,819 |
| Benefits paid out | $3,883,071 |
| Net assets, start / end of year | $30.8M / $34.1M |
| Active participants, start / end of year | 891 / 921 |
| Participants with account balances | 1,149 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Uhy LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $163,864 reported compensation |
| Empower Advisory Group, LLC | $3,819 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250717141729NAL0000204099001, received 2025-07-17, EIN 43-0760175, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.