Assa Abloy Incorporated 401(k) Review & Grade
Assa Abloy Inc. Retirement Savings Plan
New Haven, CTManufacturing13,371 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,937Employer $ per active participant
$4,538Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$1.3BNet plan assets, end of year
$94,156Average balance per account
Score breakdown
- Employer generosity11.7 / 5023th percentile for employer $ per participant
- Low cost15.5 / 2562th percentile for low admin cost vs. same-size plans
- Employee saving2.4 / 1516th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 62th |
| Employee saving | 16th |
| Peers that auto-enroll | 69% |
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
Late deposits: the filing says some employee contributions were not sent to the plan on time ($90,842 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $49,441 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Assa Abloy Incorporated put in about $2,937 per active participant, below the typical peer ($5,480). Any match is still an instant return, so contribute enough to get all of it.
- 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $39,273,144 |
| Participant (employee) contributions | $60,683,398 |
| Other contributions (incl. rollovers in) | $31,902,105 |
| Administrative expenses paid from the plan | $770,469 |
| Contract administrator fees | $5,100 |
| Investment advisory & management fees | $319,191 |
| Benefits paid out | $105,078,715 |
| Net assets, start / end of year | $1.1B / $1.3B |
| Active participants, start / end of year | 12,400 / 14,342 |
| Participants with account balances | 13,934 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $451,278 reported compensation |
| Strategic Advisors, Inc. | $319,191 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009125706NAL0003927427001, received 2025-10-09, EIN 93-0925319, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.