Fellowes, Inc. 401(k) Review & Grade
Fellowes, Inc. 401(k) Retirement Plan
Itasca, ILManufacturing688 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,021Employer $ per active participant
$7,308Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$137.1MNet plan assets, end of year
$154,214Average balance per account
Score breakdown
- Employer generosity31.8 / 5064th percentile for employer $ per participant
- Low cost17.5 / 2570th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 70th |
| Employee saving | 76th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $361 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Fellowes put in about $3,021 per active participant, more than the typical peer ($2,320). 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 | $2,079,961 |
| Participant (employee) contributions | $5,031,284 |
| Other contributions (incl. rollovers in) | $2,805,397 |
| Administrative expenses paid from the plan | $155,589 |
| Investment advisory & management fees | $50,000 |
| Benefits paid out | $19,812,385 |
| Net assets, start / end of year | $129.2M / $137.1M |
| Active participants, start / end of year | 765 / 612 |
| Participants with account balances | 889 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailly, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $105,589 reported compensation |
| Gallagher Benefit Services Inc DBA | $50,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015134218NAL0002383203001, received 2025-10-15, EIN 36-0770670, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.