Schindler Elevator Corporation 401(k) Review & Grade
Schindler Elevator Corporation Savings and Investment Plan
Morristown, NJManufacturing2,308 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$7,273Employer $ per active participant
$11,505Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$527.8MNet plan assets, end of year
$157,218Average balance per account
Score breakdown
- Employer generosity46.0 / 5092th percentile for employer $ per participant
- Low cost20.9 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving14.0 / 1593th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score84 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 83th |
| Employee saving | 93th |
| Peers that auto-enroll | 59% |
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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
- Schindler Elevator put in about $7,273 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.
- 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 | $16,781,594 |
| Participant (employee) contributions | $26,548,412 |
| Other contributions (incl. rollovers in) | $2,431,018 |
| Administrative expenses paid from the plan | $313,954 |
| Contract administrator fees | $2,400 |
| Investment advisory & management fees | $105,198 |
| Other admin expenses | $43,634 |
| Benefits paid out | $61,723,294 |
| Net assets, start / end of year | $465.3M / $527.8M |
| Active participants, start / end of year | 2,253 / 2,362 |
| Participants with account balances | 3,357 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caron & Bletzer, PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $165,122 reported compensation |
| Strategic Advisors, Inc. | $105,198 reported compensation |
| Aon Hewitt | $43,634 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250714082643NAL0000789297001, received 2025-07-14, EIN 34-1270056, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.