Dana Limited 401(k) Review & Grade
Dana Retirement Savings Plan
Maumee, OHManufacturing2,874 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,255Employer $ per active participant
$10,741Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$895.8MNet plan assets, end of year
$193,513Average balance per account
Score breakdown
- Employer generosity44.8 / 5090th percentile for employer $ per participant
- Low cost16.2 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving12.9 / 1586th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score81 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 90th |
| Lower admin cost | 65th |
| Employee saving | 86th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $66,405 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Dana Limited put in about $8,255 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 | $23,724,208 |
| Participant (employee) contributions | $30,869,136 |
| Other contributions (incl. rollovers in) | $3,676,759 |
| Administrative expenses paid from the plan | $681,039 |
| Other admin expenses | $681,039 |
| Benefits paid out | $92,836,486 |
| Net assets, start / end of year | $832.6M / $895.8M |
| Active participants, start / end of year | 3,211 / 2,537 |
| Participants with account balances | 4,629 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rehmann Robson, LLC |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $363,723 reported compensation |
| Goldman Sachs | $166,808 reported compensation |
| Vanguard Advisers Inc. | $153,736 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009141744NAL0003649091001, received 2025-10-09, EIN 26-1318190, plan #147, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.