Millerknoll, Inc. 401(k) Review & Grade
Millerknoll Retirement Plan
Zeeland, MIManufacturing7,000 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,176Employer $ per active participant
$6,957Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$1.4BNet plan assets, end of year
$145,324Average balance per account
Score breakdown
- Employer generosity23.0 / 5046th percentile for employer $ per participant
- Low cost15.0 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving8.9 / 1559th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 60th |
| Employee saving | 59th |
| 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
- Millerknoll put in about $3,176 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.
- 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 | $22,231,252 |
| Participant (employee) contributions | $48,697,599 |
| Other contributions (incl. rollovers in) | $9,614,542 |
| Administrative expenses paid from the plan | $1,258,971 |
| Other admin expenses | $10,048 |
| Benefits paid out | $153,539,296 |
| Net assets, start / end of year | $1.3B / $1.4B |
| Active participants, start / end of year | 6,998 / 7,001 |
| Participants with account balances | 9,843 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mcconnell & Jones, LLP |
| Employer stock held by plan | $41,279,551 |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $719,472 reported compensation |
| Vanguard Advisers Inc. | $302,217 reported compensation |
| Cap Financial Partners LLC | $90,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014085152NAL0003460208001, received 2025-10-14, EIN 38-0837640, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.