The Libman Company 401(k) Review & Grade
The Libman Company Profit Sharing Plan and Trust
Arcola, ILManufacturing690 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,608Employer $ per active participant
$2,542Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$34.6MNet plan assets, end of year
$55,217Average balance per account
Score breakdown
- Employer generosity16.6 / 5033th percentile for employer $ per participant
- Low cost21.3 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving2.6 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 33th |
| Lower admin cost | 85th |
| Employee saving | 18th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $113,836 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Libman put in about $1,608 per active participant, below the typical peer ($2,320). 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 | $1,108,545 |
| Participant (employee) contributions | $1,752,727 |
| Other contributions (incl. rollovers in) | $593,381 |
| Administrative expenses paid from the plan | $18,053 |
| Investment advisory & management fees | $6,803 |
| Benefits paid out | $2,521,656 |
| Net assets, start / end of year | $29.9M / $34.6M |
| Active participants, start / end of year | 629 / 750 |
| Participants with account balances | 626 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars,llp |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $11,250 reported compensation |
| Strategic Advisors, Inc. | $6,803 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260401102741NAL0001569123001, received 2026-04-01, EIN 37-0994957, plan #001, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.