Terex Corporation 401(k) Review & Grade
Terex Corporation and Affiliates 401(k) Retirement Savings Plan
Norwalk, CTManufacturing5,037 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,185Employer $ per active participant
$4,699Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$687.4MNet plan assets, end of year
$106,871Average balance per account
Score breakdown
- Employer generosity23.2 / 5046th percentile for employer $ per participant
- Low cost14.6 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving4.9 / 1532th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 58th |
| Employee saving | 32th |
| Peers that auto-enroll | 70% |
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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 $1,967 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Terex put in about $3,185 per active participant, below the typical peer ($3,452). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $16,040,817 |
| Participant (employee) contributions | $23,667,785 |
| Other contributions (incl. rollovers in) | $8,965,401 |
| Administrative expenses paid from the plan | $638,736 |
| Investment advisory & management fees | $117,191 |
| Other admin expenses | $126,227 |
| Benefits paid out | $91,105,114 |
| Net assets, start / end of year | $638.5M / $687.4M |
| Active participants, start / end of year | 4,280 / 5,794 |
| Participants with account balances | 6,432 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
| Employer stock held by plan | $29,512,479 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $299,913 reported compensation |
| Mercer | $126,227 reported compensation |
| Strategic Advisors, Inc. | $117,191 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250618101311NAL0005563682001, received 2025-06-18, EIN 34-1531521, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.