Panasonic Corporation of North America 401(k) Review & Grade
Panasonic Retirement Savings and Investment Plan
Newark, NJWholesale Trade9,199 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,572Employer $ per active participant
$9,363Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.7BNet plan assets, end of year
$139,424Average balance per account
Score breakdown
- Employer generosity34.8 / 5070th percentile for employer $ per participant
- Low cost21.4 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving13.8 / 1592th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 70th |
| Lower admin cost | 86th |
| Employee saving | 92th |
| Peers that auto-enroll | 62% |
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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 ($535,567 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $28,241 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Panasonic Corporation of North America put in about $3,572 per active participant, more than the typical peer ($2,459). 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 | $32,858,943 |
| Participant (employee) contributions | $86,130,741 |
| Other contributions (incl. rollovers in) | $13,623,752 |
| Administrative expenses paid from the plan | $612,858 |
| Contract administrator fees | $1,800 |
| Other admin expenses | $59,604 |
| Benefits paid out | $168,939,567 |
| Net assets, start / end of year | $1.6B / $1.7B |
| Active participants, start / end of year | 9,662 / 8,736 |
| Participants with account balances | 11,836 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohn Reznick LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $526,479 reported compensation |
| Mercer | $59,605 reported compensation |
| Cohnreznick LLP | $26,775 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007091946NAL0002538979001, received 2025-10-07, EIN 36-2786846, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.