Andersen Corporation 401(k) Review & Grade
Andersen 401k Plan
Bayport, MNManufacturing13,193 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,200Employer $ per active participant
$5,592Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$1.5BNet plan assets, end of year
$79,467Average balance per account
Score breakdown
- Employer generosity17.3 / 5035th percentile for employer $ per participant
- Low cost13.6 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving4.1 / 1527th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 35th |
| Lower admin cost | 54th |
| Employee saving | 27th |
| Peers that auto-enroll | 69% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Andersen put in about $4,200 per active participant, below the typical peer ($5,480). 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 | $55,409,708 |
| Participant (employee) contributions | $73,777,319 |
| Other contributions (incl. rollovers in) | $18,499,929 |
| Administrative expenses paid from the plan | $1,083,080 |
| Contract administrator fees | $1,100 |
| Investment advisory & management fees | $258,273 |
| Benefits paid out | $141,499,584 |
| Net assets, start / end of year | $1.3B / $1.5B |
| Active participants, start / end of year | 13,115 / 13,271 |
| Participants with account balances | 18,308 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Russell Investments Trust Company | $1,019,581 reported compensation |
| Schwab Retirement Plan Services,inc | $793,807 reported compensation |
| Ernst & Young, LLP | $25,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250723110111NAL0003993697001, received 2025-07-23, EIN 41-0123208, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.