Ernest Packaging 401(k) Review & Grade
Ernest Paper Products, Inc. Retirement Plan
Commerce, CATransportation & Warehousing531 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,018Employer $ per active participant
$6,766Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$45.0MNet plan assets, end of year
$68,757Average balance per account
Score breakdown
- Employer generosity42.5 / 5085th percentile for employer $ per participant
- Low cost10.5 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving12.9 / 1586th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score76 / 100 · Grade A
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 42th |
| Employee saving | 86th |
| Peers that auto-enroll | 37% |
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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
- Ernest Packaging put in about $3,018 per active participant, more than the typical peer ($1,070). 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 | $1,602,557 |
| Participant (employee) contributions | $3,592,625 |
| Other contributions (incl. rollovers in) | $493,017 |
| Administrative expenses paid from the plan | $119,728 |
| Investment advisory & management fees | $62,461 |
| Benefits paid out | $4,038,075 |
| Net assets, start / end of year | $37.9M / $45.0M |
| Active participants, start / end of year | 523 / 539 |
| Participants with account balances | 655 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Windes |
Largest service providers (Schedule C)
| LPL Financial | $75,128 reported compensation |
| Empower Annuity Insurance Company O | $23,413 reported compensation |
| Empower Advisory Group, LLC | $15,187 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250917110358NAL0000924306001, received 2025-09-17, EIN 95-1536052, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.