Hyster-Yale Materials Handling, Inc. 401(k) Review & Grade
The Hyster-Yale Materials Handling, Inc. Profit Sharing Retirement Plan
Cleveland, OHManufacturing3,480 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,428Employer $ per active participant
$8,536Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$966.6MNet plan assets, end of year
$200,419Average balance per account
Score breakdown
- Employer generosity47.0 / 5094th percentile for employer $ per participant
- Low cost19.1 / 2576th percentile for low admin cost vs. same-size plans
- Employee saving10.7 / 1572th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score84 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 76th |
| Employee saving | 72th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,869 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hyster-Yale Materials Handling put in about $9,428 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.
- 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 | $32,813,954 |
| Participant (employee) contributions | $29,708,908 |
| Other contributions (incl. rollovers in) | $1,204,281 |
| Administrative expenses paid from the plan | $502,288 |
| Investment advisory & management fees | $96,325 |
| Other admin expenses | $86,515 |
| Benefits paid out | $69,423,643 |
| Net assets, start / end of year | $868.2M / $966.6M |
| Active participants, start / end of year | 3,494 / 3,467 |
| Participants with account balances | 4,823 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| Vanguard Group, Inc. | $377,394 reported compensation |
| Vanguard Advisers Inc | $96,325 reported compensation |
| Crowe LLP | $28,570 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015214624NAL0005649041001, received 2025-10-15, EIN 93-0160700, plan #013, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.