Avnet, Inc. 401(k) Review & Grade
Avnet 401(k) Plan
Phoenix, AZManufacturing2,891 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1Employer $ per active participant
$7,556Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$624.3MNet plan assets, end of year
$140,994Average balance per account
Score breakdown
- Employer generosity0.4 / 501th percentile for employer $ per participant
- Low cost22.6 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving9.7 / 1564th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 1th |
| Lower admin cost | 90th |
| Employee saving | 64th |
| Peers that auto-enroll | 70% |
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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
- Avnet put in about $1 per active participant, below the typical peer ($3,452). 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 | $3,071 |
| Participant (employee) contributions | $21,844,997 |
| Other contributions (incl. rollovers in) | $1,051,721 |
| Administrative expenses paid from the plan | $182,727 |
| Other admin expenses | $12,720 |
| Benefits paid out | $90,996,864 |
| Net assets, start / end of year | $609.1M / $624.3M |
| Active participants, start / end of year | 3,029 / 2,753 |
| Participants with account balances | 4,428 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas PC |
| Employer stock held by plan | $1,759,888 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $170,007 reported compensation |
| Cbiz Cpas PC | $12,720 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013175807NAL0002524336001, received 2025-10-13, EIN 11-1890605, plan #102, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.