Nordex USA, Inc. 401(k) Review & Grade
Nordex USA, Inc. 401(k) Plan
Chicago, ILManufacturing594 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,786Employer $ per active participant
$6,809Employee $ saved per active participant
0.37%Direct admin cost, % of plan assets
$40.5MNet plan assets, end of year
$66,774Average balance per account
Score breakdown
- Employer generosity36.2 / 5072th percentile for employer $ per participant
- Low cost8.3 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving10.7 / 1571th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 72th |
| Lower admin cost | 33th |
| Employee saving | 71th |
| 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
- Nordex USA put in about $3,786 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.
- Direct plan expenses (0.37% 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 | $2,250,656 |
| Participant (employee) contributions | $4,047,679 |
| Other contributions (incl. rollovers in) | $104,578 |
| Administrative expenses paid from the plan | $136,689 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $64,906 |
| Benefits paid out | $4,329,693 |
| Net assets, start / end of year | $33.8M / $40.5M |
| Active participants, start / end of year | 591 / 598 |
| Participants with account balances | 606 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pagliuco Opalacz & Associates, P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $71,783 reported compensation |
| LPL Financial LLC | $64,906 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015113024NAL0002218355001, received 2025-10-15, EIN 95-4788417, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.