H.B. Fuller Company 401(k) Review & Grade
H.B. Fuller Company 401(k) & Retirement Plan
ST Paul, MNManufacturing2,682 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,889Employer $ per active participant
$8,604Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$529.3MNet plan assets, end of year
$142,334Average balance per account
Score breakdown
- Employer generosity34.4 / 5069th percentile for employer $ per participant
- Low cost8.4 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving10.8 / 1572th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 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 | 69th |
| Lower admin cost | 34th |
| Employee saving | 72th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,977 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- H.B. Fuller put in about $4,889 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.
- Direct plan expenses (0.21% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $13,111,625 |
| Participant (employee) contributions | $23,075,891 |
| Other contributions (incl. rollovers in) | $8,007,750 |
| Administrative expenses paid from the plan | $1,045,225 |
| Investment advisory & management fees | $360,641 |
| Benefits paid out | $62,997,494 |
| Net assets, start / end of year | $488.2M / $529.3M |
| Active participants, start / end of year | 2,526 / 2,838 |
| Participants with account balances | 3,719 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo, USA P.C. |
| Employer stock held by plan | $25,163,693 |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $590,774 reported compensation |
| Empower Advisory Group, LLC | $222,865 reported compensation |
| Aon Investments USA Inc | $80,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010095958NAL0012787040001, received 2025-10-10, EIN 41-0268370, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.