O-I Glass, Inc. 401(k) Review & Grade
Owens-Illinois, Inc. Stock Purchase and Savings Program
Perrysburg, OHManufacturing1,175 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,587Employer $ per active participant
$13,776Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$382.4MNet plan assets, end of year
$206,677Average balance per account
Score breakdown
- Employer generosity47.9 / 5096th percentile for employer $ per participant
- Low cost21.9 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving14.5 / 1597th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score91 / 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 | 88th |
| Employee saving | 97th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $12,223 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- O-I Glass put in about $9,587 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.
- 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 | $11,264,884 |
| Participant (employee) contributions | $16,187,370 |
| Other contributions (incl. rollovers in) | $3,247,390 |
| Administrative expenses paid from the plan | $195,952 |
| Contract administrator fees | $138,779 |
| Investment advisory & management fees | $57,173 |
| Benefits paid out | $102,782,156 |
| Net assets, start / end of year | $415.0M / $382.4M |
| Active participants, start / end of year | 1,296 / 1,054 |
| Participants with account balances | 1,850 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst-Young LLP |
Largest service providers (Schedule C)
| John Hancock Retirement Plan Svcs. | $138,779 reported compensation |
| Aon Investments USA, Inc. | $43,297 reported compensation |
| Signator Investors, Inc. | $13,876 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008135953NAL0005658977001, received 2025-10-08, EIN 22-2781933, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.