Packaging Coordinators 401(k) match, vesting and fees
What Packaging Coordinators' 401(k) plan says about matching contributions
The Plan provides a safe harbor matching company contribution, currently set at a rate of 100% of the amount of participants’ elective deferrals that do not exceed 3% of the participants’ compensation, plus 50% of the amount of the participant’s elective deferrals between 3% and 5% of the participants’ 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 | Audit report, p. 29 ↗ |
| Match vesting | Participants are 100% vested in their entire account balance upon participation in the Plan, except for participants who merged from the Bellwyck Plan in 2020 and the LSNE Plan in 2023. These participants have their frozen fixed match and frozen non-elective contributions vest based on years of service from the effective date above. Bellwyck Plan participants become 20% vested after three years of service, 40% after four years of service, 80% after six years of service and 100% vested after seven years of service. LSNE Plan participants will become 25% vested after one years of service, 50% after two years of service, 75% after three years of service and 100% vested after four years of service. Forfeitures related to Bellwyck participant accounts as of December 31, 2024 and 2023 are $1,275 and $5,130, respectively. Forfeitures may be used to pay administrative expenses or to offset the Company’s contributions. During the year ending December 31, 2024, the Plan utilized forfeitures in the amount of $5,981 to offset the administrative expenses. | Audit report, p. 30 ↗ |
| Automatic enrollment | Participants will have their pre-tax deferrals automatically increase by 1% annually until a deferral rate of 10% is reached. New hires will be automatically enrolled into the Plan at a 5% employee contribution payroll deferral. | Audit report, p. 29 ↗ |
| Roth contributions | Participants may elect to contribute pre-tax and Roth after-tax to the Plan up to 90% of their annual compensation, as defined in the Plan. | Audit report, p. 29 ↗ |
| Loans | Participants may borrow from their accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their account balance. The loans are secured by the balance in the participant’s account. Interest rates are set at the time of the loan, which are commensurate with local prevailing rates. Principal and interest is paid ratably through payroll deductions. Only one loan per participant may be outstanding at any given time. | Audit report, p. 30 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Grant Thornton LLP (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.
| Packaging Coordinators: employer contribution per participant | $2,173 | |
| Peer median | $2,413 |
| Packaging Coordinators: average balance | $43,501 | |
| Peer median | $86,456 |
| Packaging Coordinators: admin expenses ÷ assets | 0.22% | |
| 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 $105M at the end of plan year 2021 to $188M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 4,677 | $188M | $9.4M | $2,173 | 0.22% | Quoted in the audit report, p. 29 ↗ | Form 5500 ↗ |
| 2023 | 4,014 | $151M | $7.6M | $2,128 | 0.22% | Not published | Form 5500 ↗ |
| 2022 | 2,747 | $95.1M | $4.9M | $1,971 | 0.21% | Not published | Form 5500 ↗ |
| 2021 | 2,073 | $105M | $4.3M | $2,095 | 0.24% | Not published | Form 5500 ↗ |
Common questions
Does Packaging Coordinators match 401(k) contributions?
The audit report attached to the Packaging Coordinators, Inc. 401(k) Savings Plan's plan year 2024 Form 5500, page 29 says: “The Plan provides a safe harbor matching company contribution, currently set at a rate of 100% of the amount of participants’ elective deferrals that do not exceed 3% of the participants’ compensation, plus 50% of the amount of the participant’s elective deferrals between 3% and 5% of the participants’ compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Packaging Coordinators 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 30 says: “Participants are 100% vested in their entire account balance upon participation in the Plan, except for participants who merged from the Bellwyck Plan in 2020 and the LSNE Plan in 2023. These participants have their frozen fixed match and frozen non-elective contributions vest based on years of service from the effective date above. Bellwyck Plan participants become 20% vested after three years of service, 40% after four years of service, 80% after six years of service and 100% vested after seven years of service. LSNE Plan participants will become 25% vested after one years of service, 50% after two years of service, 75% after three years of service and 100% vested after four years of service. Forfeitures related to Bellwyck participant accounts as of December 31, 2024 and 2023 are $1,275 and $5,130, respectively. Forfeitures may be used to pay administrative expenses or to offset the Company’s contributions. During the year ending December 31, 2024, the Plan utilized forfeitures in the amount of $5,981 to offset the administrative expenses.”
Who manages the Packaging Coordinators 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Packaging Coordinators Inc..
I left Packaging Coordinators. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Packaging Coordinators Inc., (215) 613-3785) or the recordkeeper, Fidelity Investments Institutional. The Packaging Coordinators old 401(k) page lists the contacts from every plan filing. Find an old Packaging Coordinators 401(k)
Data from the public Form 5500 annual reports Packaging Coordinators 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 Packaging Coordinators. Not financial advice. Report a correction · Methodology