Evonik Corporation 401(k) Review & Grade
Evonik Corporation 401(k) Savings Plan
Piscataway, NJManufacturing4,705 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$10,957Employer $ per active participant
$11,487Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$1.5BNet plan assets, end of year
$238,530Average balance per account
Score breakdown
- Employer generosity48.1 / 5096th percentile for employer $ per participant
- Low cost14.9 / 2559th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1589th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 96th |
| Lower admin cost | 59th |
| Employee saving | 89th |
| Peers that auto-enroll | 70% |
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
Late deposits: the filing says some employee contributions were not sent to the plan on time ($100,031 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $86,633 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Evonik put in about $10,957 per active participant, more than the typical peer ($3,452). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $51,554,940 |
| Participant (employee) contributions | $54,046,796 |
| Other contributions (incl. rollovers in) | $5,678,837 |
| Administrative expenses paid from the plan | $1,347,193 |
| Contract administrator fees | $175,187 |
| Investment advisory & management fees | $106,026 |
| Benefits paid out | $216,164,630 |
| Net assets, start / end of year | $1.4B / $1.5B |
| Active participants, start / end of year | 4,716 / 4,694 |
| Participants with account balances | 6,240 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsenallen, LLP |
Largest service providers (Schedule C)
| Mcdermott Will & Emery LLP | $575,471 reported compensation |
| Empower Annuity Insurance Company O | $415,259 reported compensation |
| Willis Towers Watson US LLC | $175,187 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929130528NAL0012201792001, received 2025-09-29, EIN 63-0673043, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.