Novozymes North America, Inc. 401(k) Review & Grade
Novozymes North America, Inc. 401(k) Savings Plan
Franklinton, NCManufacturing1,186 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$9,712Employer $ per active participant
$10,000Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$351.5MNet plan assets, end of year
$212,365Average balance per account
Score breakdown
- Employer generosity48.0 / 5096th percentile for employer $ per participant
- Low cost20.2 / 2581th percentile for low admin cost vs. same-size plans
- Employee saving13.4 / 1590th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score85 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 96th |
| Lower admin cost | 81th |
| Employee saving | 90th |
| Peers that auto-enroll | 59% |
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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
- Novozymes North America put in about $9,712 per active participant, more than the typical peer ($2,320). 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.
- 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 | $11,523,162 |
| Participant (employee) contributions | $11,865,203 |
| Other contributions (incl. rollovers in) | $767,170 |
| Administrative expenses paid from the plan | $239,549 |
| Contract administrator fees | $127,147 |
| Investment advisory & management fees | $98,911 |
| Benefits paid out | $29,454,265 |
| Net assets, start / end of year | $311.2M / $351.5M |
| Active participants, start / end of year | 1,203 / 1,170 |
| Participants with account balances | 1,655 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wipfli LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $127,147 reported compensation |
| Sageview Advisory Group | $99,000 reported compensation |
| Wipfli LLP | $13,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013092010NAL0000919857001, received 2025-10-13, EIN 13-2639630, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.