Avanos Medical, Inc. 401(k) Review & Grade
Avanos Medical, Inc. 401(k) Plan
Alpharetta, GAManufacturing834 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,329Employer $ per active participant
$14,084Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$310.9MNet plan assets, end of year
$210,502Average balance per account
Score breakdown
- Employer generosity46.0 / 5092th percentile for employer $ per participant
- Low cost18.4 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1597th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score89 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 73th |
| Employee saving | 97th |
| 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
- Avanos Medical put in about $7,329 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.
- 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 | $6,112,479 |
| Participant (employee) contributions | $11,745,992 |
| Other contributions (incl. rollovers in) | $1,809,494 |
| Administrative expenses paid from the plan | $305,644 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $247,868 |
| Benefits paid out | $40,356,528 |
| Net assets, start / end of year | $287.2M / $310.9M |
| Active participants, start / end of year | 869 / 799 |
| Participants with account balances | 1,477 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Moore Colson |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $247,868 reported compensation |
| Fidelity Investments Institutional | $58,541 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250818163211NAL0002877490001, received 2025-08-18, EIN 46-4987888, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.