Creative Foam 401(k) match, vesting and fees
What Creative Foam's 401(k) plan says about matching contributions
The Company also makes matching contributions equal to 50 percent of a participant's pretax contributions up to the first 2.5 percent of compensation deferred.
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 | Audit report, p. 33 ↗ |
| Match vesting | Participants' contributions, rollover contributions, employer matching contributions, and employer discretionary contributions and related earnings are fully vested at all times and are not subject to forfeiture for any reason. In 2023, the Plan was amended where employees hired on or after January 1, 2023 fully vest in the employer match after one year. | Audit report, p. 33 ↗ |
| Automatic enrollment | Participants hired prior to July 1, 2021 are automatically enrolled into the Plan at a rate of 2 percent of compensation if not enrolled one month after their date of hire. Participants hired after July 1, 2021 are automatically enrolled at 3 percent of compensation. On the anniversary of the participant's date of hire, the contribution automatically increases by 1 percent until it reaches a maximum of 10 percent of the participant's compensation. | Audit report, p. 33 ↗ |
| Loans | Participants may borrow from their accounts subject to certain maximum and minimum amounts prescribed in the Plan and in the Internal Revenue Code. | Audit report, p. 33 ↗ |
| Recordkeeper | Empower Annuity Insurance Company | Schedule C ↗ |
| Independent auditor | Plante Moran (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 1,619 defined-contribution plans in manufacturing with 1,000 to 4,999 participants.
| Creative Foam: employer contribution per participant | $724 | |
| Peer median | $2,413 |
| Creative Foam: average balance | $31,541 | |
| Peer median | $86,456 |
| Creative Foam: admin expenses ÷ assets | 0.06% | |
| Peer median | 0.12% |
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 $49.8M at the end of plan year 2021 to $50.9M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,642 | $50.9M | $1.2M | $724 | 0.06% | Quoted in the audit report, p. 33 ↗ | Form 5500 ↗ |
| 2023 | 1,838 | $46.8M | $974K | $610 | 0.11% | Not published | Form 5500 ↗ |
| 2022 | 1,468 | $41.4M | $770K | $525 | 0.12% | Not published | Form 5500 ↗ |
| 2021 | 1,370 | $49.8M | $731K | $533 | 0.12% | Not published | Form 5500 ↗ |
Common questions
Does Creative Foam match 401(k) contributions?
The audit report attached to the Creative Foam 401(k) Plan's plan year 2024 Form 5500, page 33 says: “The Company also makes matching contributions equal to 50 percent of a participant's pretax contributions up to the first 2.5 percent of compensation deferred.” Plan terms may have changed; check your current Summary Plan Description.
When is the Creative Foam 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 33 says: “Participants' contributions, rollover contributions, employer matching contributions, and employer discretionary contributions and related earnings are fully vested at all times and are not subject to forfeiture for any reason. In 2023, the Plan was amended where employees hired on or after January 1, 2023 fully vest in the employer match after one year.”
Who manages the Creative Foam 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Annuity Insurance Company. The plan administrator is Creative Foam Corporation.
I left Creative Foam. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Creative Foam Corporation, (810) 629-4149) or the recordkeeper, Empower Annuity Insurance Company. The Creative Foam old 401(k) page lists the contacts from every plan filing. Find an old Creative Foam 401(k)
Data from the public Form 5500 annual reports Creative Foam filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) 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 Creative Foam. Not financial advice. Report a correction · Methodology