Clearwater Paper Corporation 401(k) Review & Grade
Clearwater Paper 401(k) Plan
Spokane, WAManufacturing1,332 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,499Employer $ per active participant
$11,045Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$225.8MNet plan assets, end of year
$136,106Average balance per account
Score breakdown
- Employer generosity47.8 / 5096th percentile for employer $ per participant
- Low cost17.2 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving13.9 / 1592th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 96th |
| Lower admin cost | 69th |
| Employee saving | 92th |
| 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 ($5,043 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $7,416 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Clearwater Paper put in about $9,499 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.
- 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 | $12,657,975 |
| Participant (employee) contributions | $14,717,420 |
| Other contributions (incl. rollovers in) | $12,833,693 |
| Administrative expenses paid from the plan | $320,330 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $147,593 |
| Other admin expenses | $18,122 |
| Benefits paid out | $153,020,091 |
| Net assets, start / end of year | $294.4M / $225.8M |
| Active participants, start / end of year | 1,827 / 838 |
| Participants with account balances | 1,659 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lbmc, PC |
| Employer stock held by plan | $2,978,701 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $154,705 reported compensation |
| Financial Engines | $118,718 reported compensation |
| Lbmc, PC | $28,875 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924151505NAL0008321536001, received 2025-09-24, EIN 20-3594554, plan #022, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.