Toyota Motor North America, Inc 401(k) Review & Grade
Toyota Motor North America, Inc. Retirement Savings Plan
Plano, TXWholesale Trade44,030 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,702Employer $ per active participant
$9,264Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$13.3BNet plan assets, end of year
$259,232Average balance per account
Score breakdown
- Employer generosity50.0 / 50100th percentile for employer $ per participant
- Low cost20.2 / 2581th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1597th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score82 / 100 · Grade A
This plan vs. peers
Peers: Wholesale Trade plans with 10,000+ active participants (35 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 100th |
| Lower admin cost | 81th |
| Employee saving | 97th |
| Peers that auto-enroll | 63% |
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 $1,292,277 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Toyota Motor North America put in about $8,702 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 | $383,151,308 |
| Participant (employee) contributions | $407,914,010 |
| Other contributions (incl. rollovers in) | $30,370,245 |
| Administrative expenses paid from the plan | $4,260,405 |
| Contract administrator fees | $49,600 |
| Investment advisory & management fees | $2,276,520 |
| Other admin expenses | $285,717 |
| Benefits paid out | $1,191,550,485 |
| Net assets, start / end of year | $11.9B / $13.3B |
| Active participants, start / end of year | 43,916 / 44,145 |
| Participants with account balances | 51,475 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US LLP |
| Employer stock held by plan | $152,636,321 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $1,659,451 reported compensation |
| Qdro Consultants Co LLC | $49,600 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008114247NAL0009333472001, received 2025-10-08, EIN 95-3141669, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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