The Toro Company 401(k) Review & Grade
The Toro Company Retirement Plan
Minneapolis, MNManufacturing7,202 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,688Employer $ per active participant
$6,518Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$1.4BNet plan assets, end of year
$148,351Average balance per account
Score breakdown
- Employer generosity27.0 / 5054th percentile for employer $ per participant
- Low cost23.3 / 2593th percentile for low admin cost vs. same-size plans
- Employee saving8.3 / 1555th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 93th |
| Employee saving | 55th |
| 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
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Toro put in about $3,688 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 | $26,558,574 |
| Participant (employee) contributions | $46,936,728 |
| Other contributions (incl. rollovers in) | $6,370,227 |
| Administrative expenses paid from the plan | $316,735 |
| Other admin expenses | $316,735 |
| Benefits paid out | $185,859,786 |
| Net assets, start / end of year | $1.4B / $1.4B |
| Active participants, start / end of year | 7,431 / 6,972 |
| Participants with account balances | 9,173 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
| Employer stock held by plan | $216,921,784 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $317,716 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250714122213NAL0001027729001, received 2025-07-14, EIN 41-0580470, plan #203, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.