Greer Industries, Inc. 401(k) Review & Grade
The Greer 401(k) Plan
Morgantown, WVMining, Oil & Gas812 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,988Employer $ per active participant
$3,132Employee $ saved per active participant
0.45%Direct admin cost, % of plan assets
$51.4MNet plan assets, end of year
$58,646Average balance per account
Score breakdown
- Employer generosity9.8 / 5020th percentile for employer $ per participant
- Low cost6.5 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 26th |
| Employee saving | 9th |
| Peers that auto-enroll | 60% |
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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
- Greer Industries put in about $1,988 per active participant, below the typical peer ($4,357). 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 (0.45% 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.
- 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 | $1,613,232 |
| Participant (employee) contributions | $2,541,240 |
| Other contributions (incl. rollovers in) | $443,313 |
| Administrative expenses paid from the plan | $220,988 |
| Contract administrator fees | $10,813 |
| Investment advisory & management fees | $39,403 |
| Other admin expenses | $6,112 |
| Benefits paid out | $4,562,276 |
| Net assets, start / end of year | $45.9M / $51.4M |
| Active participants, start / end of year | 690 / 933 |
| Participants with account balances | 877 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grossman Yanak & Ford LLP |
Largest service providers (Schedule C)
| Morgan Stanley | $162,752 reported compensation |
| Empower Annuity Insurance Company | $52,124 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008140831NAL0003067491001, received 2025-10-08, EIN 34-0737241, plan #007, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.