Eaton Corporation 401(k) Review & Grade
Eaton Personal Investment Plan
Cleveland, OHManufacturing3,389 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,248Employer $ per active participant
$3,345Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$225.0MNet plan assets, end of year
$61,797Average balance per account
Score breakdown
- Employer generosity7.3 / 5015th percentile for employer $ per participant
- Low cost20.4 / 2581th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 81th |
| Employee saving | 18th |
| 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
- Eaton put in about $1,248 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 | $4,230,899 |
| Participant (employee) contributions | $11,337,790 |
| Other contributions (incl. rollovers in) | $1,016,826 |
| Administrative expenses paid from the plan | $95,190 |
| Investment advisory & management fees | $3,969 |
| Benefits paid out | $28,918,619 |
| Net assets, start / end of year | $206.6M / $225.0M |
| Active participants, start / end of year | 3,343 / 3,435 |
| Participants with account balances | 3,641 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Meaden & Moore LTD |
Largest service providers (Schedule C)
| Fidelity Investments Inst Op Co | $91,221 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014081726NAL0003409184003, received 2025-10-14, EIN 34-0196300, plan #162, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.