Zep Inc. 401(k) Review & Grade
Zep Inc. 401(k) Plan
Atlanta, GAManagement of Companies1,086 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,932Employer $ per active participant
$5,892Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$160.0MNet plan assets, end of year
$105,447Average balance per account
Score breakdown
- Employer generosity18.7 / 5037th percentile for employer $ per participant
- Low cost17.1 / 2568th percentile for low admin cost vs. same-size plans
- Employee saving7.9 / 1553th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Management of Companies plans with 500–2,499 active participants (172 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 68th |
| Employee saving | 53th |
| Peers that auto-enroll | 58% |
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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
- Zep put in about $1,932 per active participant, below the typical peer ($2,492). 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.
- 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 | $2,099,465 |
| Participant (employee) contributions | $6,402,095 |
| Other contributions (incl. rollovers in) | $994,555 |
| Administrative expenses paid from the plan | $196,976 |
| Investment advisory & management fees | $89,783 |
| Benefits paid out | $22,130,133 |
| Net assets, start / end of year | $154.0M / $160.0M |
| Active participants, start / end of year | 1,106 / 1,067 |
| Participants with account balances | 1,517 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Warren Averette Cpas and Advisors |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $126,347 reported compensation |
| NFP Retirement Inc | $45,000 reported compensation |
| Smith Anglin Financial LLC | $15,129 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251027143230NAL0005425651001, received 2025-10-27, EIN 26-0783366, plan #007, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.