Perrigo Company 401(k) Review & Grade
Perrigo Company Profit-Sharing and Investment Plan
Allegan, MIManufacturing4,990 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,083Employer $ per active participant
$7,293Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.0BNet plan assets, end of year
$156,966Average balance per account
Score breakdown
- Employer generosity35.3 / 5071th percentile for employer $ per participant
- Low cost21.0 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving9.4 / 1562th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score76 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 71th |
| Lower admin cost | 84th |
| Employee saving | 62th |
| 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
- Perrigo put in about $5,083 per active participant, more than the typical peer ($3,452). 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 | $25,367,761 |
| Participant (employee) contributions | $36,396,790 |
| Other contributions (incl. rollovers in) | $2,625,727 |
| Administrative expenses paid from the plan | $400,239 |
| Other admin expenses | $400,239 |
| Benefits paid out | $133,863,341 |
| Net assets, start / end of year | $983.3M / $1.0B |
| Active participants, start / end of year | 5,206 / 4,775 |
| Participants with account balances | 6,633 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rehmann Robson LLC |
| Employer stock held by plan | $8,039,371 |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $235,311 reported compensation |
| Vanguard Advisers Inc. | $195,678 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250716073352NAL0002893185001, received 2025-07-16, EIN 38-2799573, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.