Generac Power Systems, Inc. 401(k) Review & Grade
Generac Power Systems, Inc. Employees 401(k) Savings Plan
Waukesha, WIManufacturing5,598 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,915Employer $ per active participant
$5,403Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$343.6MNet plan assets, end of year
$51,351Average balance per account
Score breakdown
- Employer generosity13.4 / 5027th percentile for employer $ per participant
- Low cost11.4 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1542th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 27th |
| Lower admin cost | 45th |
| Employee saving | 42th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $356,647 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Generac Power Systems put in about $1,915 per active participant, below the typical peer ($3,452). 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 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 | $10,721,302 |
| Participant (employee) contributions | $30,247,415 |
| Other contributions (incl. rollovers in) | $10,139,210 |
| Administrative expenses paid from the plan | $447,745 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $13,858 |
| Other admin expenses | $182,502 |
| Benefits paid out | $34,211,987 |
| Net assets, start / end of year | $286.7M / $343.6M |
| Active participants, start / end of year | 5,021 / 6,175 |
| Participants with account balances | 6,692 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wipfli LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $213,046 reported compensation |
| Marquette Associates, Inc | $182,624 reported compensation |
| Transamerica Retirement Solutions | $21,419 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009112719NAL0006510449001, received 2025-10-09, EIN 39-0963276, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.