Sandvik, Inc. 401(k) Review & Grade
Sandvik 401(k) Retirement Plan
Mebane, NCManufacturing2,650 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,808Employer $ per active participant
$8,016Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$693.0MNet plan assets, end of year
$166,470Average balance per account
Score breakdown
- Employer generosity45.8 / 5092th percentile for employer $ per participant
- Low cost22.8 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving10.2 / 1568th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score89 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 91th |
| Employee saving | 68th |
| Peers that auto-enroll | 70% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Sandvik put in about $8,808 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 | $23,345,874 |
| Participant (employee) contributions | $21,247,648 |
| Other contributions (incl. rollovers in) | $4,080,408 |
| Administrative expenses paid from the plan | $179,397 |
| Other admin expenses | $44,144 |
| Benefits paid out | $67,698,012 |
| Net assets, start / end of year | $624.0M / $693.0M |
| Active participants, start / end of year | 2,698 / 2,603 |
| Participants with account balances | 4,163 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $95,110 reported compensation |
| Buck Global LLC | $44,310 reported compensation |
| Crowe LLP | $40,143 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015154710NAL0002690835001, received 2025-10-15, EIN 22-1717737, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.