Otto Engineering, Inc. 401(k) Review & Grade
Otto Engineering, Inc. 401(k) Savings and Retirement Plan
Carpentersville, ILManufacturing538 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,500Employer $ per active participant
$5,238Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$68.5MNet plan assets, end of year
$129,979Average balance per account
Score breakdown
- Employer generosity26.9 / 5054th percentile for employer $ per participant
- Low cost16.1 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving8.2 / 1555th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 64th |
| Employee saving | 55th |
| 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
- Otto Engineering put in about $2,500 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 | $1,345,991 |
| Participant (employee) contributions | $2,820,670 |
| Other contributions (incl. rollovers in) | $246,739 |
| Administrative expenses paid from the plan | $90,934 |
| Investment advisory & management fees | $85,985 |
| Other admin expenses | $4,949 |
| Benefits paid out | $2,543,214 |
| Net assets, start / end of year | $57.7M / $68.5M |
| Active participants, start / end of year | 544 / 533 |
| Participants with account balances | 527 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Miller Cooper & Co., LTD. |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $78,042 reported compensation |
| Empower Advisory Group, LLC | $48,485 reported compensation |
| Gallagher Benefit Services Inc DBA | $37,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007185221NAL0005179425001, received 2025-10-07, EIN 36-2538513, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.