Milliken & Company 401(k) Review & Grade
The Milliken Retirement Plan
Spartanburg, SCManufacturing5,712 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,725Employer $ per active participant
$4,984Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$1.4BNet plan assets, end of year
$167,443Average balance per account
Score breakdown
- Employer generosity20.1 / 5040th percentile for employer $ per participant
- Low cost18.6 / 2575th percentile for low admin cost vs. same-size plans
- Employee saving5.4 / 1536th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 40th |
| Lower admin cost | 75th |
| Employee saving | 36th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Milliken & put in about $2,725 per active participant, below the typical peer ($3,452). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $15,563,558 |
| Participant (employee) contributions | $28,471,197 |
| Other contributions (incl. rollovers in) | $3,021,052 |
| Administrative expenses paid from the plan | $752,047 |
| Investment advisory & management fees | $357,409 |
| Benefits paid out | $150,009,992 |
| Net assets, start / end of year | $1.3B / $1.4B |
| Active participants, start / end of year | 5,733 / 5,691 |
| Participants with account balances | 8,066 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $395,620 reported compensation |
| Edelman Financial Engines | $357,409 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010080330NAL0007781281001, received 2025-10-10, EIN 51-0105342, plan #335, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.