Park-Ohio Industries, Inc. 401(k) Review & Grade
Park-Ohio Industries, Inc. 401(k) Retirement Plan
Mayfield Heights, OHWholesale Trade2,676 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$202Employer $ per active participant
$3,761Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$167.9MNet plan assets, end of year
$53,148Average balance per account
Score breakdown
- Employer generosity2.0 / 504th percentile for employer $ per participant
- Low cost22.3 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1526th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 4th |
| Lower admin cost | 89th |
| Employee saving | 26th |
| Peers that auto-enroll | 62% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $61,226 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Park-Ohio Industries put in about $202 per active participant, below the typical peer ($2,459). 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 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 | $540,744 |
| Participant (employee) contributions | $10,062,954 |
| Other contributions (incl. rollovers in) | $923,567 |
| Administrative expenses paid from the plan | $50,979 |
| Investment advisory & management fees | $13,101 |
| Benefits paid out | $26,467,358 |
| Net assets, start / end of year | $160.9M / $167.9M |
| Active participants, start / end of year | 3,073 / 2,278 |
| Participants with account balances | 3,160 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bober Markey Fedorovich |
| Employer stock held by plan | $1,473,066 |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $50,828 reported compensation |
| Charles Schwab Trust Bank | $0 reported compensation |
| Charles Schwab & Co., Inc. | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250912092209NAL0001182273001, received 2025-09-12, EIN 34-6520107, plan #011, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.