Covestro LLC 401(k) Review & Grade
Covestro LLC Savings and Retirement Plan
Pittsburgh, PAManufacturing2,555 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$14,871Employer $ per active participant
$14,355Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$1.6BNet plan assets, end of year
$498,623Average balance per account
Score breakdown
- Employer generosity49.6 / 5099th percentile for employer $ per participant
- Low cost19.3 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving14.2 / 1595th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score90 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 99th |
| Lower admin cost | 77th |
| Employee saving | 95th |
| Peers that auto-enroll | 70% |
Red flags from the filing
Corrective distributions: the plan refunded $5,129 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Covestro put in about $14,871 per active participant, more than the typical peer ($3,452). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $37,996,170 |
| Participant (employee) contributions | $36,676,991 |
| Other contributions (incl. rollovers in) | $3,687,292 |
| Administrative expenses paid from the plan | $797,454 |
| Other admin expenses | $797,454 |
| Benefits paid out | $126,263,416 |
| Net assets, start / end of year | $1.4B / $1.6B |
| Active participants, start / end of year | 2,561 / 2,549 |
| Participants with account balances | 3,147 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Urish Popeck & Co., LLC |
Largest service providers (Schedule C)
| Vanguard Advisers Inc. | $639,028 reported compensation |
| The Vanguard Group, Inc. | $176,591 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001123807NAL0012621297001, received 2025-10-01, EIN 06-1653740, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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