Glaxosmithkline LLC 401(k) Review & Grade
GSK 401(k) Plan
Philadelphia, PAManufacturing12,344 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$20,438Employer $ per active participant
$16,514Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$8.8BNet plan assets, end of year
$404,760Average balance per account
Score breakdown
- Employer generosity49.7 / 5099th percentile for employer $ per participant
- Low cost12.2 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving13.1 / 1587th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score75 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 99th |
| Lower admin cost | 49th |
| Employee saving | 87th |
| Peers that auto-enroll | 69% |
Red flags from the filing
Corrective distributions: the plan refunded $84,465 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Glaxosmithkline put in about $20,438 per active participant, more than the typical peer ($5,480). 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.
- 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 | $252,295,672 |
| Participant (employee) contributions | $203,852,179 |
| Other contributions (incl. rollovers in) | $26,516,064 |
| Administrative expenses paid from the plan | $7,598,781 |
| Contract administrator fees | $3,261,497 |
| Investment advisory & management fees | $4,333,401 |
| Other admin expenses | $3,022 |
| Benefits paid out | $871,197,347 |
| Net assets, start / end of year | $8.1B / $8.8B |
| Active participants, start / end of year | 12,435 / 12,254 |
| Participants with account balances | 21,718 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche LLP |
| Employer stock held by plan | $239,533,600 |
Largest service providers (Schedule C)
| Alight Financial Advisors LLC | $3,261,497 reported compensation |
| Dodge & Cox | $2,235,361 reported compensation |
| Blackrock | $1,155,222 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250701061851NAL0018200928001, received 2025-07-01, EIN 23-1099050, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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