Protective Industrial Products, Inc. 401(k) Review & Grade
Pip 401(k) Retirement Plan
Latham, NYWholesale Trade958 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,475Employer $ per active participant
$3,426Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$48.2MNet plan assets, end of year
$81,325Average balance per account
Score breakdown
- Employer generosity19.8 / 5040th percentile for employer $ per participant
- Low cost9.6 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving4.5 / 1530th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 40th |
| Lower admin cost | 39th |
| Employee saving | 30th |
| 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
- Protective Industrial Products put in about $1,475 per active participant, below the typical peer ($1,792). 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.
- 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 | $1,413,411 |
| Participant (employee) contributions | $3,282,194 |
| Other contributions (incl. rollovers in) | $545,907 |
| Administrative expenses paid from the plan | $146,060 |
| Investment advisory & management fees | $63,191 |
| Benefits paid out | $5,523,789 |
| Net assets, start / end of year | $43.7M / $48.2M |
| Active participants, start / end of year | 937 / 979 |
| Participants with account balances | 593 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Uhy LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $82,869 reported compensation |
| Kestra Investment Services LLC | $63,191 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922154817NAL0012686674001, received 2025-09-22, EIN 14-1659264, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.