Howmet Aerospace Inc. 401(k) Review & Grade
Howmet Aerospace Salaried Retirement Savings Plan
Pittsburgh, PAManufacturing3,335 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,280Employer $ per active participant
$10,167Employee $ saved per active participant
$0 reportedDirect admin cost, % of plan assets
$1.1BNet plan assets, end of year
$215,016Average balance per account
Score breakdown
- Employer generosity46.6 / 5093th percentile for employer $ per participant
- Low cost12.5 / 25No direct expenses reported, scored neutral
- Employee saving12.2 / 1581th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | neutral |
| Employee saving | 81th |
| Peers that auto-enroll | 70% |
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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 ($5,588 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
- Howmet Aerospace put in about $9,280 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.
- The plan reported no administrative expenses paid from plan assets. The employer may pay them, or the costs may be built into fund fees. Check your 404(a)(5) fee disclosure for each fund's expense ratio.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $30,948,476 |
| Participant (employee) contributions | $33,905,526 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $0 |
| Benefits paid out | $158,690,528 |
| Net assets, start / end of year | $988.1M / $1.1B |
| Active participants, start / end of year | 3,308 / 3,362 |
| Participants with account balances | 5,015 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pricewaterhousecoopers LLP |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250613111225NAL0017524209001, received 2025-06-13, EIN 25-0317820, plan #007, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.