Woodward, Inc. 401(k) Review & Grade
Woodward Retirement Savings Plan
Fort Collins, COManufacturing6,392 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,782Employer $ per active participant
$8,092Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$2.0BNet plan assets, end of year
$230,098Average balance per account
Score breakdown
- Employer generosity44.0 / 5088th percentile for employer $ per participant
- Low cost18.9 / 2576th percentile for low admin cost vs. same-size plans
- Employee saving10.4 / 1569th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score80 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 76th |
| Employee saving | 69th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $19,330 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Woodward put in about $7,782 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 | $49,740,694 |
| Participant (employee) contributions | $51,725,279 |
| Other contributions (incl. rollovers in) | $4,880,974 |
| Administrative expenses paid from the plan | $1,035,608 |
| Investment advisory & management fees | $1,035,608 |
| Benefits paid out | $175,941,884 |
| Net assets, start / end of year | $1.8B / $2.0B |
| Active participants, start / end of year | 6,210 / 6,574 |
| Participants with account balances | 8,541 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Benning Group, LLC |
| Employer stock held by plan | $357,360,280 |
Largest service providers (Schedule C)
| Vanguard Advisors, Inc. | $605,917 reported compensation |
| The Vanguard Group, Inc. | $517,491 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926131507NAL0010895024001, received 2025-09-26, EIN 36-1984010, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.