O-I Glass, Inc. 401(k) Review & Grade
Owens-Illinois, Inc. Long-Term Savings Plan
Perrysburg, OHManufacturing2,686 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,658Employer $ per active participant
$6,881Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$308.3MNet plan assets, end of year
$78,638Average balance per account
Score breakdown
- Employer generosity26.9 / 5054th percentile for employer $ per participant
- Low cost13.4 / 2553th percentile for low admin cost vs. same-size plans
- Employee saving8.7 / 1558th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 53th |
| Employee saving | 58th |
| 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
- O-I Glass put in about $3,658 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 | $9,823,447 |
| Participant (employee) contributions | $18,478,269 |
| Other contributions (incl. rollovers in) | $2,259,197 |
| Administrative expenses paid from the plan | $348,553 |
| Contract administrator fees | $291,380 |
| Investment advisory & management fees | $57,173 |
| Benefits paid out | $51,977,029 |
| Net assets, start / end of year | $314.5M / $308.3M |
| Active participants, start / end of year | 2,753 / 2,618 |
| Participants with account balances | 3,921 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young, LLP |
Largest service providers (Schedule C)
| John Hancock Retirement Plan Svcs | $291,380 reported compensation |
| Aon Investments USA, Inc. | $43,297 reported compensation |
| Signator Investors, Inc. | $13,876 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008140033NAL0005659745001, received 2025-10-08, EIN 22-2781933, plan #017, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.