Onto Innovation, Inc. 401(k) Review & Grade
Onto Innovation, Inc. 401(k) Savings Plan
Budd Lake, NJManufacturing906 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,737Employer $ per active participant
$16,195Employee $ saved per active participant
0.00%Direct admin cost, % of plan assets
$263.7MNet plan assets, end of year
$192,903Average balance per account
Score breakdown
- Employer generosity35.9 / 5072th percentile for employer $ per participant
- Low cost24.9 / 2599th percentile for low admin cost vs. same-size plans
- Employee saving14.7 / 1598th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 72th |
| Lower admin cost | 99th |
| Employee saving | 98th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $22,320 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Onto Innovation put in about $3,737 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 | $3,387,924 |
| Participant (employee) contributions | $14,681,049 |
| Other contributions (incl. rollovers in) | $2,527,446 |
| Administrative expenses paid from the plan | $6,172 |
| Contract administrator fees | $300 |
| Benefits paid out | $21,314,783 |
| Net assets, start / end of year | $230.8M / $263.7M |
| Active participants, start / end of year | 928 / 885 |
| Participants with account balances | 1,367 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young |
Largest service providers (Schedule C)
| Ameriprise Financial Services Inc | $214,988 reported compensation |
| Fidelity Investments Institutional | $6,172 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015141530NAL0002430547001, received 2025-10-15, EIN 94-2276314, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.