Austal USA. LLC 401(k) Review & Grade
Austal USA. LLC 401(k) Plan
Mobile, ALManufacturing2,674 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,574Employer $ per active participant
$3,534Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$129.6MNet plan assets, end of year
$56,042Average balance per account
Score breakdown
- Employer generosity10.0 / 5020th percentile for employer $ per participant
- Low cost7.4 / 2529th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 29th |
| Employee saving | 20th |
| 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 $162,697 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Austal USA. put in about $1,574 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.
- Direct plan expenses (0.24% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $4,207,401 |
| Participant (employee) contributions | $9,446,960 |
| Other contributions (incl. rollovers in) | $1,035,361 |
| Administrative expenses paid from the plan | $288,778 |
| Contract administrator fees | $227,628 |
| Investment advisory & management fees | $51,950 |
| Other admin expenses | $9,200 |
| Benefits paid out | $14,941,724 |
| Net assets, start / end of year | $115.2M / $129.6M |
| Active participants, start / end of year | 2,636 / 2,711 |
| Participants with account balances | 2,312 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Carr, Riggs Ingram, LLC |
Largest service providers (Schedule C)
| Voya Retirement & Insurance Annuity | $288,845 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010112054NAL0008038353001, received 2025-10-10, EIN 63-1238756, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.