Allegro Microsystems 401(k) Review & Grade
Allegro Microsystems, LLC Employees' Retirement Savings Plan · d/b/a Allegro Microsystems, LLC
Manchester, NHManufacturing672 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,418Employer $ per active participant
$16,072Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$251.8MNet plan assets, end of year
$253,598Average balance per account
Score breakdown
- Employer generosity46.2 / 5092th percentile for employer $ per participant
- Low cost19.5 / 2578th percentile for low admin cost vs. same-size plans
- Employee saving14.7 / 1598th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score90 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 78th |
| Employee saving | 98th |
| 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
- Allegro Microsystems put in about $7,418 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 | $4,988,289 |
| Participant (employee) contributions | $10,808,624 |
| Other contributions (incl. rollovers in) | $2,367,302 |
| Administrative expenses paid from the plan | $205,325 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $107,767 |
| Benefits paid out | $36,594,410 |
| Net assets, start / end of year | $234.6M / $251.8M |
| Active participants, start / end of year | 716 / 629 |
| Participants with account balances | 993 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Caron & Bletzer, PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $97,558 reported compensation |
| Strategic Advisors, Inc. | $72,865 reported compensation |
| Sageview Advisory Group, LLC | $34,902 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250717104333NAL0000190642001, received 2025-07-17, EIN 22-3056180, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.