Kerry Inc. 401(k) Review & Grade
Kerry Inc. Savings Plan
Beloit, WIManufacturing5,067 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,385Employer $ per active participant
$5,462Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$604.2MNet plan assets, end of year
$106,634Average balance per account
Score breakdown
- Employer generosity32.2 / 5064th percentile for employer $ per participant
- Low cost10.4 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving6.4 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 42th |
| Employee saving | 43th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $5,528 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Kerry put in about $4,385 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 | $22,219,295 |
| Participant (employee) contributions | $27,675,548 |
| Other contributions (incl. rollovers in) | $5,039,145 |
| Administrative expenses paid from the plan | $921,851 |
| Investment advisory & management fees | $400,030 |
| Other admin expenses | $1,500 |
| Benefits paid out | $64,576,257 |
| Net assets, start / end of year | $544.7M / $604.2M |
| Active participants, start / end of year | 5,153 / 4,981 |
| Participants with account balances | 5,666 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Picewaterhousecoopers,llp |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $479,321 reported compensation |
| Empower Advisory Group, LLC | $308,696 reported compensation |
| Mercer Investment Consulting Inc | $91,334 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014150650NAL0004328688001, received 2025-10-14, EIN 51-0274193, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.