Graco Inc 401(k) Review & Grade
Graco Employee Investment Plan
Minneapolis, MNManufacturing2,561 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,564Employer $ per active participant
$9,114Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$619.1MNet plan assets, end of year
$181,718Average balance per account
Score breakdown
- Employer generosity32.8 / 5066th percentile for employer $ per participant
- Low cost14.9 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 66th |
| Lower admin cost | 60th |
| Employee saving | 75th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $15,670 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Graco put in about $4,564 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 | $11,687,299 |
| Participant (employee) contributions | $23,342,163 |
| Other contributions (incl. rollovers in) | $3,019,512 |
| Administrative expenses paid from the plan | $549,096 |
| Investment advisory & management fees | $255,972 |
| Other admin expenses | $1,200 |
| Benefits paid out | $61,192,330 |
| Net assets, start / end of year | $571.6M / $619.1M |
| Active participants, start / end of year | 2,618 / 2,504 |
| Participants with account balances | 3,407 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
| Employer stock held by plan | $53,674,680 |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $255,972 reported compensation |
| Empower Annuity Insurance Company | $215,149 reported compensation |
| Mercer (US) Inc | $66,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250917132016NAL0000665250001, received 2025-09-17, EIN 41-0285640, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.