The Dow Chemical Company 401(k) Review & Grade
The Dow Chemical Company Employees' Savings Plan
Midland, MIManufacturing17,172 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$13,325Employer $ per active participant
$15,482Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$10.7BNet plan assets, end of year
$325,532Average balance per account
Score breakdown
- Employer generosity45.7 / 5091th percentile for employer $ per participant
- Low cost23.4 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving12.9 / 1586th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score89 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 94th |
| Employee saving | 86th |
| Peers that auto-enroll | 69% |
Red flags from the filing
Corrective distributions: the plan refunded $328,287 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Dow Chemical put in about $13,325 per active participant, more than the typical peer ($5,480). 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 | $228,803,172 |
| Participant (employee) contributions | $265,855,937 |
| Other contributions (incl. rollovers in) | $21,829,833 |
| Administrative expenses paid from the plan | $1,502,745 |
| Contract administrator fees | $23,225 |
| Investment advisory & management fees | $1,124,664 |
| Other admin expenses | $46,289 |
| Benefits paid out | $1,063,672,503 |
| Net assets, start / end of year | $10.1B / $10.7B |
| Active participants, start / end of year | 17,128 / 17,215 |
| Participants with account balances | 33,016 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
| Employer stock held by plan | $499,619,383 |
Largest service providers (Schedule C)
| Fidelity Investments Inst. Op. Co. | $175,627 reported compensation |
| Bny Mellon | $85,575 reported compensation |
| Mayer Brown LLP | $84,476 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250613111032NAL0015630275001, received 2025-06-13, EIN 38-1285128, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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