American Axle & Manufacturing, Inc. 401(k) Review & Grade
American Axle & Manufacturing, Inc. Salaried Savings Plan
Detroit, MIManufacturing1,892 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$8,705Employer $ per active participant
$12,394Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$707.5MNet plan assets, end of year
$261,447Average balance per account
Score breakdown
- Employer generosity47.1 / 5094th percentile for employer $ per participant
- Low cost21.6 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving14.3 / 1595th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score86 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 86th |
| Employee saving | 95th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- American Axle & Manufacturing put in about $8,705 per active participant, more than the typical peer ($2,320). 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.
- 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 | $16,464,923 |
| Participant (employee) contributions | $23,443,650 |
| Other contributions (incl. rollovers in) | $3,679,443 |
| Administrative expenses paid from the plan | $357,835 |
| Other admin expenses | $256,161 |
| Benefits paid out | $67,830,124 |
| Net assets, start / end of year | $632.7M / $707.5M |
| Active participants, start / end of year | 1,926 / 1,857 |
| Participants with account balances | 2,706 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | GJC Cpa's & Advisors |
Largest service providers (Schedule C)
| Stifel, Nicolaus & Company Inc. | $53,108 reported compensation |
| Fidelity Inv. Inst. Oper. Co. | $26,115 reported compensation |
| Willis Towers Watson US LLC | $23,434 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009221646NAL0007539137004, received 2025-10-09, EIN 38-3138388, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.