American Axle & Manufacturing, Inc. 401(k) Review & Grade
American Axle & Manufacturing, Inc. Personal Savings Plan for Hourly-Rate Associates
Detroit, MIManufacturing3,975 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$878Employer $ per active participant
$2,176Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$257.9MNet plan assets, end of year
$78,352Average balance per account
Score breakdown
- Employer generosity4.7 / 509th percentile for employer $ per participant
- Low cost14.4 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 9th |
| Lower admin cost | 58th |
| Employee saving | 9th |
| Peers that auto-enroll | 70% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $16,816 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- American Axle & Manufacturing put in about $878 per active participant, below the typical peer ($3,452). 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 | $3,489,786 |
| Participant (employee) contributions | $8,649,118 |
| Other contributions (incl. rollovers in) | $970,795 |
| Administrative expenses paid from the plan | $249,628 |
| Other admin expenses | $61,155 |
| Benefits paid out | $30,971,106 |
| Net assets, start / end of year | $244.9M / $257.9M |
| Active participants, start / end of year | 4,126 / 3,824 |
| Participants with account balances | 3,292 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | GJC Cpa's & Advisors |
Largest service providers (Schedule C)
| Fidelity Inv. Inst. Oper. Co. | $138,816 reported compensation |
| Stifel, Nicolaus & Company Inc. | $19,643 reported compensation |
| GJC Cpa's & Advisors | $16,350 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009221646NAL0007539137003, received 2025-10-09, EIN 38-3138388, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.