Lima Refining Company 401(k) Review & Grade
Cenovus Non-Represented 401(k) Plan
Lima, OHManufacturing734 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$17,193Employer $ per active participant
$13,668Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$183.9MNet plan assets, end of year
$232,794Average balance per account
Score breakdown
- Employer generosity49.9 / 50100th percentile for employer $ per participant
- Low cost24.6 / 2599th percentile for low admin cost vs. same-size plans
- Employee saving14.5 / 1597th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score89 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 100th |
| Lower admin cost | 99th |
| Employee saving | 97th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $11,890 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lima Refining put in about $17,193 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.
- 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 | $12,610,769 |
| Participant (employee) contributions | $10,025,569 |
| Other contributions (incl. rollovers in) | $1,721,102 |
| Administrative expenses paid from the plan | $10,453 |
| Other admin expenses | $10,453 |
| Benefits paid out | $12,096,048 |
| Net assets, start / end of year | $146.4M / $183.9M |
| Active participants, start / end of year | 639 / 828 |
| Participants with account balances | 790 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pricewaterhousecoopers LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $14,183 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013123707NAL0000609123001, received 2025-10-13, EIN 22-3948622, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.