Applied Industrial Technologies, Inc. 401(k) Review & Grade
Applied Industrial Technologies, Inc. Retirement Savings Plan
Cleveland, OHWholesale Trade4,962 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,190Employer $ per active participant
$6,619Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$862.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity8.8 / 5018th percentile for employer $ per participant
- Low cost16.5 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving11.2 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 18th |
| Lower admin cost | 66th |
| Employee saving | 75th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,555 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Applied Industrial Technologies put in about $1,190 per active participant, below the typical peer ($2,459). 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 | $5,902,980 |
| Participant (employee) contributions | $32,848,460 |
| Other contributions (incl. rollovers in) | $7,295,766 |
| Administrative expenses paid from the plan | $621,378 |
| Contract administrator fees | $496,309 |
| Investment advisory & management fees | $74,636 |
| Benefits paid out | $105,916,832 |
| Net assets, start / end of year | $774.2M / $862.3M |
| Active participants, start / end of year | 5,000 / 4,925 |
| Participants with account balances | 1 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bober, Markey, Fedorovich & Company |
| Employer stock held by plan | $178,077,834 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $496,309 reported compensation |
| Ubs Financial Services Inc | $74,837 reported compensation |
| Bob Markey Fredorovich | $40,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250626161052NAL0005050163001, received 2025-06-26, EIN 34-0117420, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.