Thermo Fisher Scientific Inc. 401(k) Review & Grade
Thermo Fisher Scientific Inc. 401(k) Retirement Plan
Pittsburgh, PAWholesale Trade44,270 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,024Employer $ per active participant
$10,825Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$10.3BNet plan assets, end of year
$150,104Average balance per account
Score breakdown
- Employer generosity45.6 / 5091th percentile for employer $ per participant
- Low cost22.6 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving15.0 / 15100th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score80 / 100 · Grade A
This plan vs. peers
Peers: Wholesale Trade plans with 10,000+ active participants (35 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 91th |
| Employee saving | 100th |
| Peers that auto-enroll | 63% |
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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 $66,527 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Thermo Fisher Scientific put in about $6,024 per active participant, more than the typical peer ($2,420). 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 | $266,690,768 |
| Participant (employee) contributions | $479,212,097 |
| Other contributions (incl. rollovers in) | $89,026,055 |
| Administrative expenses paid from the plan | $1,872,007 |
| Contract administrator fees | $20,400 |
| Investment advisory & management fees | $255,237 |
| Other admin expenses | $385,382 |
| Benefits paid out | $980,365,314 |
| Net assets, start / end of year | $7.5B / $10.3B |
| Active participants, start / end of year | 36,150 / 52,390 |
| Participants with account balances | 68,375 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pricewaterhousecoopers LLC |
| Employer stock held by plan | $210,353,160 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $918,563 reported compensation |
| Nepc LLC | $314,587 reported compensation |
| Strategic Advisors, Inc. | $254,171 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250625103136NAL0019155202001, received 2025-06-25, EIN 04-2209186, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.