Michelin North America, Inc. C/o Retirement Manager 401(k) Review & Grade
Michelin 401(k) Savings Plan
Greenville, SCManufacturing15,082 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,611Employer $ per active participant
$8,097Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$4.5BNet plan assets, end of year
$229,369Average balance per account
Score breakdown
- Employer generosity38.3 / 5077th percentile for employer $ per participant
- Low cost21.9 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving6.9 / 1546th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score74 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 88th |
| Employee saving | 46th |
| Peers that auto-enroll | 69% |
Red flags from the filing
Corrective distributions: the plan refunded $53,895 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Michelin North America, Inc. C/o Retirement Manager put in about $8,611 per active participant, more than the typical peer ($5,480). 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 | $129,874,185 |
| Participant (employee) contributions | $122,114,055 |
| Other contributions (incl. rollovers in) | $12,858,237 |
| Administrative expenses paid from the plan | $1,065,426 |
| Other admin expenses | $1,065,426 |
| Benefits paid out | $375,332,016 |
| Net assets, start / end of year | $4.1B / $4.5B |
| Active participants, start / end of year | 15,095 / 15,068 |
| Participants with account balances | 19,521 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pricewaterhousecoopers |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $996,204 reported compensation |
| Aon Consulting, Inc. (NJ) | $89,040 reported compensation |
| Vanguard Advisers Inc. | $66,807 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251020150612NAL0000724625001, received 2025-10-20, EIN 11-1724631, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
Other 401(k) plans filed under this employer's EIN
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