International Flavors & Fragrances Inc. 401(k) Review & Grade
International Flavors & Fragrances Inc. Retirement Investment Fund Plan
New York, NYManufacturing5,217 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,976Employer $ per active participant
$10,824Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$979.7MNet plan assets, end of year
$143,883Average balance per account
Score breakdown
- Employer generosity38.5 / 5077th percentile for employer $ per participant
- Low cost14.7 / 2559th percentile for low admin cost vs. same-size plans
- Employee saving13.0 / 1587th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 59th |
| Employee saving | 87th |
| 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 ($6,975,083 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $9,293 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- International Flavors & Fragrances put in about $5,976 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 | $31,178,509 |
| Participant (employee) contributions | $56,467,264 |
| Other contributions (incl. rollovers in) | $23,863,632 |
| Administrative expenses paid from the plan | $854,011 |
| Contract administrator fees | $900 |
| Investment advisory & management fees | $380,729 |
| Other admin expenses | $28,837 |
| Benefits paid out | $87,164,509 |
| Net assets, start / end of year | $826.5M / $979.7M |
| Active participants, start / end of year | 5,071 / 5,363 |
| Participants with account balances | 6,809 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | PKF O'connor Davies, LLP |
| Employer stock held by plan | $6,598,113 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $446,149 reported compensation |
| Strategic Advisors, Inc. | $380,729 reported compensation |
| Tower Watson Investment Services, | $28,824 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250819131851NAL0004367490001, received 2025-08-19, EIN 13-1432060, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.