Cadrex 401(k) match, vesting and fees
What Cadrex's 401(k) plan says about matching contributions
The Plan includes a safe harbor matching provision in which the Company matches 100 percent of each participant's elective deferrals, not to exceed 3 percent of the participant's eligible compensation, plus 50 percent of each participant's elective deferrals in excess of 3 percent, but not to exceed 5 percent of the participant's total eligible compensation.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | 2024 audit report, p. 36 ↗ |
| Match vesting | Participants are immediately 100 percent vested in employee salary deferrals, rollover contributions, and company safe harbor matching contributions and any income or loss thereon. Vesting in the Company's discretionary contribution portion of their accounts, plus actual earnings thereon, is based on years of service. Participants vest in discretionary contributions made by the Company 20 percent after two years of continuous service, and an additional 20 percent for each year of service thereafter, until they become fully vested after six years of continuous service. | 2024 audit report, p. 37 ↗ |
| Automatic enrollment | The Plan has an automatic plan enrollment feature where all newly hired employees are automatically enrolled in the Plan on the first day of the month after meeting the eligibility requirements with a contribution of 3 percent of compensation, unless the participant elects otherwise or affirmatively declines to participate in the Plan. For participants automatically enrolled in the Plan, the Plan includes an automatic escalation provision for salary deferrals, and these participants will see an automatic 1 percent increase to their election each January until they make an election to cancel the automatic escalation feature. | 2024 audit report, p. 36 ↗ |
| Loans | Participants may borrow from their accounts a minimum of $1,000 up to a maximum of 50 percent of their account balances, not to exceed $50,000. | 2024 audit report, p. 36 ↗ |
| Recordkeeper | Principal Life Insurance Company | 2025 Schedule C ↗ |
| Independent auditor | Plante & Moran, PLLC (unmodified opinion, limited scope) | 2025 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2025 Form 5500 ↗ |
| Late participant contributions | Reported on the filing | 2025 Schedule H ↗ |
Match, vesting and other plan features are from the plan year 2024 filing's audit report (the latest one extracted so far). Rows cited to the Form 5500 and its schedules are from the plan year 2025 filing.
How the plan compares
Plan year 2025 medians for 434 defined-contribution plans in manufacturing with 1,000 to 4,999 participants.
| Cadrex: employer contribution per participant | $2,156 | |
| Peer median | $2,591 |
| Cadrex: average balance | $49,499 | |
| Peer median | $102,504 |
| Cadrex: admin expenses ÷ assets | 0.16% | |
| Peer median | 0.11% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $36M at the end of plan year 2023 to $74.1M at the end of plan year 2025.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2025 | 1,532 | $74.1M | $3.2M | $2,156 | 0.16% | Not published | Form 5500 ↗ |
| 2024 | 1,451 | $67.1M | $2.9M | $2,124 | 0.20% | Quoted in the audit report, p. 36 ↗ | Form 5500 ↗ |
| 2023 | 790 | $36M | $1.6M | $2,433 | 0.29% | Not published | Form 5500 ↗ |
Common questions
Does Cadrex match 401(k) contributions?
The audit report attached to the Cadrex 401(k) Savings & Retirement Plan's plan year 2024 Form 5500, page 36 says: “The Plan includes a safe harbor matching provision in which the Company matches 100 percent of each participant's elective deferrals, not to exceed 3 percent of the participant's eligible compensation, plus 50 percent of each participant's elective deferrals in excess of 3 percent, but not to exceed 5 percent of the participant's total eligible compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Cadrex 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 37 says: “Participants are immediately 100 percent vested in employee salary deferrals, rollover contributions, and company safe harbor matching contributions and any income or loss thereon. Vesting in the Company's discretionary contribution portion of their accounts, plus actual earnings thereon, is based on years of service. Participants vest in discretionary contributions made by the Company 20 percent after two years of continuous service, and an additional 20 percent for each year of service thereafter, until they become fully vested after six years of continuous service.”
Who manages the Cadrex 401(k)?
The recordkeeper listed on Schedule C of the plan year 2025 filing is Principal Life Insurance Company. The plan administrator is Cadrex LLC.
I left Cadrex. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Cadrex LLC, (815) 221-5300) or the recordkeeper, Principal Life Insurance Company. The Cadrex old 401(k) page lists the contacts from every plan filing. Find an old Cadrex 401(k)
Data from the public Form 5500 annual reports Cadrex filed with the U.S. Department of Labor (plan years 2023 and 2024 and 2025) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Cadrex. Not financial advice. Report a correction · Methodology