Michelin North America, Inc C/o Retirement Manager 401(k) Review & Grade
BFG Wage Defined Contribution Retirement Plan
Greenville, SCManufacturing2,400 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,219Employer $ per active participant
$3,962Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$299.8MNet plan assets, end of year
$100,655Average balance per account
Score breakdown
- Employer generosity38.5 / 5077th percentile for employer $ per participant
- Low cost22.3 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving5.4 / 1536th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score69 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 89th |
| Employee saving | 36th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Michelin North America, Inc C/o Retirement Manager put in about $4,219 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.
- 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 | $10,125,554 |
| Participant (employee) contributions | $9,509,484 |
| Other contributions (incl. rollovers in) | $88,842 |
| Administrative expenses paid from the plan | $125,477 |
| Other admin expenses | $125,477 |
| Benefits paid out | $25,971,505 |
| Net assets, start / end of year | $273.3M / $299.8M |
| Active participants, start / end of year | 2,465 / 2,335 |
| Participants with account balances | 2,978 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pricewaterhousecoopers |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $140,177 reported compensation |
| Charles Schwab & Co., Inc. | $7,025 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251020152016NAL0000734113001, received 2025-10-20, EIN 11-1724631, plan #037, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.