Associated Banc-Corp 401(k) Review & Grade
Associated Banc-Corp 401(k) and Employee Stock Ownership Plan
Green Bay, WIManagement of Companies4,092 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,951Employer $ per active participant
$7,031Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$864.8MNet plan assets, end of year
$142,549Average balance per account
Score breakdown
- Employer generosity30.5 / 5061th percentile for employer $ per participant
- Low cost21.8 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1558th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Management of Companies plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 87th |
| Employee saving | 58th |
| Peers that auto-enroll | 58% |
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Red flags from the filing
Corrective distributions: the plan refunded $926 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Associated Banc-Corp put in about $3,951 per active participant, more than the typical peer ($3,455). 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 | $16,169,525 |
| Participant (employee) contributions | $28,775,354 |
| Other contributions (incl. rollovers in) | $7,284,873 |
| Administrative expenses paid from the plan | $298,197 |
| Investment advisory & management fees | $99,495 |
| Benefits paid out | $82,899,417 |
| Net assets, start / end of year | $790.8M / $864.8M |
| Active participants, start / end of year | 4,148 / 4,037 |
| Participants with account balances | 6,067 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wipfli LLP |
| Employer stock held by plan | $38,128,345 |
Largest service providers (Schedule C)
| Associated Trust Company, N.A. | $298,197 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250707083343NAL0003563217002, received 2025-07-07, EIN 39-1098068, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.