Icu Medical, Inc. 401(k) Review & Grade
Icu Medical, Inc. 401(k) Plan
San Clemente, CAManufacturing4,412 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,187Employer $ per active participant
$8,111Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$674.1MNet plan assets, end of year
$129,491Average balance per account
Score breakdown
- Employer generosity30.9 / 5062th percentile for employer $ per participant
- Low cost17.3 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving10.4 / 1569th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 69th |
| Employee saving | 69th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($208 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Icu Medical put in about $4,187 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 | $18,476,100 |
| Participant (employee) contributions | $35,788,320 |
| Other contributions (incl. rollovers in) | $3,625,643 |
| Administrative expenses paid from the plan | $433,387 |
| Investment advisory & management fees | $90,000 |
| Other admin expenses | $500 |
| Benefits paid out | $74,850,227 |
| Net assets, start / end of year | $610.7M / $674.1M |
| Active participants, start / end of year | 4,529 / 4,296 |
| Participants with account balances | 5,206 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wright, Ford, Young & Co. |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $342,887 reported compensation |
| Sageview Advisory Group LLC | $90,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013210349NAL0000940995001, received 2025-10-13, EIN 33-0022692, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.