Covert Manufacturing, Inc.401(k)
COVERT MANUFACTURING, INC. EMPLOYEES 401K PROFIT SHARING PLAN AND TRUST · GALION, OH · plan year 2024
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
Covert Manufacturing, Inc. reported $29,851 in plan administrative expenses for 2024: 0.38% of average plan assets, below the peer median. Employer contributions averaged $659 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.28% to 0.38%. The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other manufacturing employers. By assets it is among the smaller plans on file in Ohio (2,194th of 3,295), and 9,631st of 13,661 in manufacturing. In 2024, employees put in $2.54 for every $1.00 the employer contributed; active participation has shrunk from 254 to 221 since 2022.
Covert Manufacturing, Inc.'s 2024 employer contribution ran below the $1,313 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
This plan has changed recordkeepers within these filings. If you left Covert Manufacturing, Inc. before a switch, your account may sit at the earlier firm or in a rollover IRA. Looking for an account from a past job here? How to find an old 401(k).
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Source: U.S. Department of Labor, Form 5500 series, EIN 341059703 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.