Mccormick & Company, Inc. 401(k) Review & Grade
Mccormick 401(k) Retirement Plan
Hunt Valley, MDManufacturing4,718 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,084Employer $ per active participant
$7,660Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$968.2MNet plan assets, end of year
$164,295Average balance per account
Score breakdown
- Employer generosity42.5 / 5085th percentile for employer $ per participant
- Low cost15.9 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1565th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score75 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 64th |
| Employee saving | 65th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,849 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mccormick & Company put in about $7,084 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.
- 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 | $33,418,287 |
| Participant (employee) contributions | $36,133,927 |
| Other contributions (incl. rollovers in) | $4,592,874 |
| Administrative expenses paid from the plan | $750,628 |
| Contract administrator fees | $365,534 |
| Investment advisory & management fees | $257,681 |
| Other admin expenses | $5,129 |
| Benefits paid out | $98,530,441 |
| Net assets, start / end of year | $870.7M / $968.2M |
| Active participants, start / end of year | 4,639 / 4,796 |
| Participants with account balances | 5,893 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | SB & Company, LLC |
| Employer stock held by plan | $155,733,559 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $365,534 reported compensation |
| Mercer Investments LLC | $179,419 reported compensation |
| Covington & Burlington | $92,299 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250714133422NAL0000724675001, received 2025-07-14, EIN 52-0408290, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.