Donaldson Company, Inc. 401(k) Review & Grade
Donaldson Company, Inc. Retirement Savings and Employee Stock Ownership Plan
Minneapolis, MNManufacturing4,288 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,178Employer $ per active participant
$6,766Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$827.0MNet plan assets, end of year
$140,814Average balance per account
Score breakdown
- Employer generosity35.7 / 5071th percentile for employer $ per participant
- Low cost16.9 / 2568th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1557th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 71th |
| Lower admin cost | 68th |
| Employee saving | 57th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Donaldson Company put in about $5,178 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 | $22,199,142 |
| Participant (employee) contributions | $29,008,109 |
| Other contributions (incl. rollovers in) | $3,793,998 |
| Administrative expenses paid from the plan | $565,951 |
| Investment advisory & management fees | $100,497 |
| Other admin expenses | $129,333 |
| Benefits paid out | $77,467,409 |
| Net assets, start / end of year | $745.2M / $827.0M |
| Active participants, start / end of year | 4,227 / 4,348 |
| Participants with account balances | 5,873 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
| Employer stock held by plan | $177,822,400 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $336,255 reported compensation |
| Mercer Investments LLC | $128,833 reported compensation |
| Strategic Advisors, Inc. | $100,497 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250723112455NAL0008478338001, received 2025-07-23, EIN 41-0222640, plan #007, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.