Piedmont Plastics, Inc. 401(k) Review & Grade
Piedmont Plastics 401(k) Profit Sharing Plan
Charlotte, NCWholesale Trade578 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,524Employer $ per active participant
$7,479Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$60.0MNet plan assets, end of year
$91,352Average balance per account
Score breakdown
- Employer generosity33.1 / 5066th percentile for employer $ per participant
- Low cost10.6 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1583th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 66th |
| Lower admin cost | 42th |
| Employee saving | 83th |
| Peers that auto-enroll | 53% |
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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
- Piedmont Plastics put in about $2,524 per active participant, more than the typical peer ($1,792). 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 | $1,457,348 |
| Participant (employee) contributions | $4,319,290 |
| Other contributions (incl. rollovers in) | $577,310 |
| Administrative expenses paid from the plan | $162,014 |
| Investment advisory & management fees | $76,939 |
| Benefits paid out | $6,823,017 |
| Net assets, start / end of year | $53.8M / $60.0M |
| Active participants, start / end of year | 580 / 575 |
| Participants with account balances | 657 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $85,075 reported compensation |
| Creative Planning LLC | $44,983 reported compensation |
| Empower Advisory Group, LLC | $31,957 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922082943NAL0004991265001, received 2025-09-22, EIN 56-1386156, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.