Schaeffler Group USA Inc. 401(k) Review & Grade
Schaeffler Group USA Savings Retirement Plan
Fort Mill, SCManufacturing5,043 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,204Employer $ per active participant
$6,006Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$800.1MNet plan assets, end of year
$126,061Average balance per account
Score breakdown
- Employer generosity31.0 / 5062th percentile for employer $ per participant
- Low cost23.3 / 2593th percentile for low admin cost vs. same-size plans
- Employee saving7.4 / 1549th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 93th |
| Employee saving | 49th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Schaeffler Group USA put in about $4,204 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 | $21,198,951 |
| Participant (employee) contributions | $30,287,368 |
| Other contributions (incl. rollovers in) | $2,301,204 |
| Administrative expenses paid from the plan | $174,709 |
| Contract administrator fees | $3,000 |
| Benefits paid out | $76,871,730 |
| Net assets, start / end of year | $715.9M / $800.1M |
| Active participants, start / end of year | 4,937 / 5,149 |
| Participants with account balances | 6,347 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Blacka Jessup and Henderson LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $174,709 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251017080013NAL0003892163001, received 2025-10-17, EIN 57-0517596, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.