Otis Worldwide Corporation 401(k) Review & Grade
Otis Retirement Savings Plan
Farmington, CTManufacturing4,229 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,361Employer $ per active participant
$12,133Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$475.4MNet plan assets, end of year
$99,533Average balance per account
Score breakdown
- Employer generosity46.9 / 5094th percentile for employer $ per participant
- Low cost10.4 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving13.6 / 1591th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score81 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 42th |
| 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
- Otis Worldwide put in about $9,361 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 | $39,588,049 |
| Participant (employee) contributions | $51,308,806 |
| Other contributions (incl. rollovers in) | $5,859,096 |
| Administrative expenses paid from the plan | $668,618 |
| Contract administrator fees | $15,500 |
| Investment advisory & management fees | $217,051 |
| Other admin expenses | $68 |
| Benefits paid out | $38,846,584 |
| Net assets, start / end of year | $363.9M / $475.4M |
| Active participants, start / end of year | 4,309 / 4,149 |
| Participants with account balances | 4,776 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton, LLP |
Largest service providers (Schedule C)
| Alight Solutions LLC | $257,504 reported compensation |
| State Street Bank and Trust Co | $138,995 reported compensation |
| State Street Global Advisors | $131,472 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009092305NAL0011145920001, received 2025-10-09, EIN 83-3789412, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.