Orsted North America Inc. 401(k) Review & Grade
Orsted North America Inc. 401(k) Plan
Boston, MAManufacturing729 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,702Employer $ per active participant
$12,531Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$64.6MNet plan assets, end of year
$75,685Average balance per account
Score breakdown
- Employer generosity45.2 / 5090th percentile for employer $ per participant
- Low cost11.8 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving14.3 / 1595th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 90th |
| Lower admin cost | 47th |
| Employee saving | 95th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($852,876 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $863 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Orsted North America put in about $6,702 per active participant, more than the typical peer ($2,320). 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $4,885,448 |
| Participant (employee) contributions | $9,135,126 |
| Other contributions (incl. rollovers in) | $1,728,756 |
| Administrative expenses paid from the plan | $139,785 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $21,867 |
| Other admin expenses | $13,291 |
| Benefits paid out | $6,224,343 |
| Net assets, start / end of year | $47.2M / $64.6M |
| Active participants, start / end of year | 754 / 704 |
| Participants with account balances | 854 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caron & Bletzer, PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $99,627 reported compensation |
| Strategic Advisors, Inc. | $21,867 reported compensation |
| Caron & Bletzer, PLLC | $5,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250904145931NAL0027621088001, received 2025-09-04, EIN 32-0464144, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.