Griffon Corporation 401(k) Review & Grade
Griffon Corporation Retirement Plan
New York, NYProfessional, Scientific & Technical Services3,838 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,573Employer $ per active participant
$4,938Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$650.2MNet plan assets, end of year
$104,364Average balance per account
Score breakdown
- Employer generosity22.4 / 5045th percentile for employer $ per participant
- Low cost13.6 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1527th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 54th |
| Employee saving | 27th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($3,065,565 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Griffon put in about $2,573 per active participant, below the typical peer ($2,951). 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $9,877,625 |
| Participant (employee) contributions | $18,955,042 |
| Other contributions (incl. rollovers in) | $895,187 |
| Administrative expenses paid from the plan | $695,806 |
| Other admin expenses | $695,806 |
| Benefits paid out | $87,002,786 |
| Net assets, start / end of year | $628.3M / $650.2M |
| Active participants, start / end of year | 3,907 / 3,770 |
| Participants with account balances | 6,230 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Citrin Cooperman & Company ,LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $422,239 reported compensation |
| Vanguard Advisers Inc. | $248,157 reported compensation |
| Morgan Stanley Global Banking Ops | $33,750 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015123500NAL0002415059001, received 2025-10-15, EIN 11-1893410, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.