Wahl Clipper Corporation 401(k) Review & Grade
Wahl Clipper Corporation 401(k) Profit Sharing Plan
Sterling, ILManufacturing952 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,823Employer $ per active participant
$5,855Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$139.1MNet plan assets, end of year
$127,601Average balance per account
Score breakdown
- Employer generosity36.4 / 5073th percentile for employer $ per participant
- Low cost18.7 / 2575th percentile for low admin cost vs. same-size plans
- Employee saving9.3 / 1562th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 73th |
| Lower admin cost | 75th |
| Employee saving | 62th |
| 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 ($4,921 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Wahl Clipper put in about $3,823 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 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 | $3,637,750 |
| Participant (employee) contributions | $5,570,562 |
| Other contributions (incl. rollovers in) | $539,850 |
| Administrative expenses paid from the plan | $129,933 |
| Other admin expenses | $70,000 |
| Benefits paid out | $13,347,241 |
| Net assets, start / end of year | $127.7M / $139.1M |
| Active participants, start / end of year | 997 / 906 |
| Participants with account balances | 1,090 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plancheck Cpa's, LLC |
Largest service providers (Schedule C)
| Morgan Stanley | $70,000 reported compensation |
| Fidelity Investments Institutional | $59,933 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250723130641NAL0001907603001, received 2025-07-23, EIN 36-1922730, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.