Panduit Corp. 401(k) Review & Grade
Panduit 401(k) and Profit Sharing Plan
Tinley Park, ILManufacturing1,511 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$11,940Employer $ per active participant
$11,584Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$692.2MNet plan assets, end of year
$297,224Average balance per account
Score breakdown
- Employer generosity49.2 / 5098th percentile for employer $ per participant
- Low cost24.5 / 2598th percentile for low admin cost vs. same-size plans
- Employee saving14.0 / 1593th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 98th |
| Lower admin cost | 98th |
| Employee saving | 93th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Panduit put in about $11,940 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.
- 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 | $18,041,710 |
| Participant (employee) contributions | $17,502,717 |
| Other contributions (incl. rollovers in) | $1,352,256 |
| Administrative expenses paid from the plan | $64,718 |
| Contract administrator fees | $1,200 |
| Benefits paid out | $62,286,231 |
| Net assets, start / end of year | $638.6M / $692.2M |
| Active participants, start / end of year | 1,472 / 1,550 |
| Participants with account balances | 2,329 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $43,003 reported compensation |
| Grant Thorton | $21,735 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014110315NAL0002697921001, received 2025-10-14, EIN 36-2601300, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.