Lear Corporation 401(k) Review & Grade
Lear Corporation Salaried Retirement Program
Southfield, MIManufacturing2,889 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$13,588Employer $ per active participant
$12,192Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$1.2BNet plan assets, end of year
$272,454Average balance per account
Score breakdown
- Employer generosity49.3 / 5099th percentile for employer $ per participant
- Low cost14.0 / 2556th percentile for low admin cost vs. same-size plans
- Employee saving13.7 / 1591th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score87 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 99th |
| Lower admin cost | 56th |
| Employee saving | 91th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Lear put in about $13,588 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 | $39,255,118 |
| Participant (employee) contributions | $35,222,459 |
| Other contributions (incl. rollovers in) | $5,172,530 |
| Administrative expenses paid from the plan | $1,189,761 |
| Investment advisory & management fees | $1,184,061 |
| Other admin expenses | $3,450 |
| Benefits paid out | $117,425,338 |
| Net assets, start / end of year | $1.1B / $1.2B |
| Active participants, start / end of year | 2,965 / 2,813 |
| Participants with account balances | 4,401 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young LLP |
Largest service providers (Schedule C)
| Empower Advisory Group,llc | $1,178,420 reported compensation |
| Empower Annuity Ins. Co. of America | $7,891 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002073333NAL0000142449001, received 2025-10-02, EIN 13-3386776, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.