Caterpillar Inc. 401(k) Review & Grade
Caterpillar Inc. Tax Deferred Retirement Plan
Irving, TXManufacturing7,014 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,488Employer $ per active participant
$2,919Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$748.8MNet plan assets, end of year
$76,450Average balance per account
Score breakdown
- Employer generosity18.4 / 5037th percentile for employer $ per participant
- Low cost13.7 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving2.2 / 1515th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 55th |
| Employee saving | 15th |
| Peers that auto-enroll | 70% |
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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
- Caterpillar put in about $2,488 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 | $17,451,147 |
| Participant (employee) contributions | $20,471,591 |
| Other contributions (incl. rollovers in) | $551,619 |
| Administrative expenses paid from the plan | $769,084 |
| Contract administrator fees | $187,733 |
| Investment advisory & management fees | $240,020 |
| Other admin expenses | $7,676 |
| Benefits paid out | $66,414,332 |
| Net assets, start / end of year | $678.4M / $748.8M |
| Active participants, start / end of year | 7,176 / 6,852 |
| Participants with account balances | 9,794 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pricewaterhousecoopers LLP |
Largest service providers (Schedule C)
| Alight Financial Advisors, LLC | $233,378 reported compensation |
| Alight Solutions LLC | $208,106 reported compensation |
| Strategic Benefit Advisors | $187,733 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250729123058NAL0001598867001, received 2025-07-29, EIN 37-0602744, plan #033, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.