Ufp Industries, Inc 401(k) Review & Grade
Ufp Industries, Inc. Employees' Profit Sharing and 401(k) Plan
Grand Rapids, MIManagement of Companies13,018 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$599Employer $ per active participant
$3,462Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$784.7MNet plan assets, end of year
$49,229Average balance per account
Score breakdown
- Employer generosity12.3 / 5025th percentile for employer $ per participant
- Low cost15.3 / 2561th percentile for low admin cost vs. same-size plans
- Employee saving6.0 / 1540th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score44 / 100 · Grade D
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 25th |
| Lower admin cost | 61th |
| Employee saving | 40th |
| Peers that auto-enroll | 50% |
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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
- Ufp Industries put in about $599 per active participant, below the typical peer ($2,229). 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.
- 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 | $7,799,735 |
| Participant (employee) contributions | $45,071,584 |
| Other contributions (incl. rollovers in) | $6,177,504 |
| Administrative expenses paid from the plan | $496,962 |
| Other admin expenses | $496,962 |
| Benefits paid out | $68,844,827 |
| Net assets, start / end of year | $734.6M / $784.7M |
| Active participants, start / end of year | 13,413 / 12,624 |
| Participants with account balances | 15,940 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
| Employer stock held by plan | $160,064,047 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $761,436 reported compensation |
| Wilshire Advisors LLC | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250616144440NAL0000982705001, received 2025-06-16, EIN 38-1465835, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.