Corning Incorporated 401(k) Review & Grade
Corning Incorporated Investment Plan for Unionized Employees
Corning, NYManufacturing3,326 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,374Employer $ per active participant
$6,113Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$458.7MNet plan assets, end of year
$106,912Average balance per account
Score breakdown
- Employer generosity17.3 / 5035th percentile for employer $ per participant
- Low cost18.7 / 2575th percentile for low admin cost vs. same-size plans
- Employee saving7.6 / 1550th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 35th |
| Lower admin cost | 75th |
| Employee saving | 50th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $766 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Corning Incorporated put in about $2,374 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 | $7,893,147 |
| Participant (employee) contributions | $20,328,139 |
| Other contributions (incl. rollovers in) | $925,831 |
| Administrative expenses paid from the plan | $251,268 |
| Investment advisory & management fees | $7,200 |
| Other admin expenses | $6,960 |
| Benefits paid out | $56,031,199 |
| Net assets, start / end of year | $417.6M / $458.7M |
| Active participants, start / end of year | 3,457 / 3,194 |
| Participants with account balances | 4,290 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Insero & Co. Cpas, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $121,202 reported compensation |
| The Bank of New York Mellon | $58,172 reported compensation |
| Insero & Co Cpa's LLP | $35,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250711112032NAL0017247138001, received 2025-07-11, EIN 16-0393470, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.