Freedman Seating Company 401(k) Review & Grade
Freedman Seating Company 401(k) Plan
Chicago, ILManufacturing614 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,218Employer $ per active participant
$2,416Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$30.1MNet plan assets, end of year
$88,000Average balance per account
Score breakdown
- Employer generosity11.6 / 5023th percentile for employer $ per participant
- Low cost7.7 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving2.4 / 1516th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score25 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 31th |
| Employee saving | 16th |
| Peers that auto-enroll | 59% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Freedman Seating put in about $1,218 per active participant, below the typical peer ($2,320). 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 (0.40% 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 | $748,663 |
| Participant (employee) contributions | $1,484,434 |
| Other contributions (incl. rollovers in) | $30,000 |
| Administrative expenses paid from the plan | $112,870 |
| Investment advisory & management fees | $65,879 |
| Benefits paid out | $2,032,587 |
| Net assets, start / end of year | $26.9M / $30.1M |
| Active participants, start / end of year | 588 / 641 |
| Participants with account balances | 342 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Rubinbrown |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $52,075 reported compensation |
| Equitable Advisors LLC | $48,870 reported compensation |
| Empower Annuity Insurance Company O | $46,991 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009110041NAL0003512755001, received 2025-10-09, EIN 36-2276977, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.