The Timken Company 401(k) Review & Grade
The Timken Company Savings and Investment Retirement Plan
North Canton, OHManufacturing6,135 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,508Employer $ per active participant
$6,055Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$1.2BNet plan assets, end of year
$159,354Average balance per account
Score breakdown
- Employer generosity36.5 / 5073th percentile for employer $ per participant
- Low cost15.0 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving7.4 / 1549th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 73th |
| Lower admin cost | 60th |
| Employee saving | 49th |
| 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
Corrective distributions: the plan refunded $759 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Timken put in about $5,508 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 | $33,793,282 |
| Participant (employee) contributions | $37,150,331 |
| Other contributions (incl. rollovers in) | $3,992,311 |
| Administrative expenses paid from the plan | $1,070,604 |
| Investment advisory & management fees | $738,068 |
| Benefits paid out | $113,237,428 |
| Net assets, start / end of year | $1.1B / $1.2B |
| Active participants, start / end of year | 6,521 / 5,749 |
| Participants with account balances | 7,714 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bober Markey Fedorovich and Company |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $738,068 reported compensation |
| Empower Annuity Insurance Company O | $332,536 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250703111258NAL0000543153001, received 2025-07-03, EIN 34-0577130, plan #011, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.