Silgan Containers Manufacturing Corporation 401(k) Review & Grade
Silgan Retirement Savings Plan for Hourly Employees
Woodland Hills, CAManufacturing3,334 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,401Employer $ per active participant
$4,168Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$259.3MNet plan assets, end of year
$56,076Average balance per account
Score breakdown
- Employer generosity8.2 / 5016th percentile for employer $ per participant
- Low cost9.5 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1526th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 38th |
| Employee saving | 26th |
| Peers that auto-enroll | 70% |
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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 ($42,150 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Silgan Containers Manufacturing put in about $1,401 per active participant, below the typical peer ($3,452). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- 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 | $4,672,602 |
| Participant (employee) contributions | $13,896,892 |
| Other contributions (incl. rollovers in) | $766,571 |
| Administrative expenses paid from the plan | $459,582 |
| Contract administrator fees | $57,401 |
| Investment advisory & management fees | $54,916 |
| Other admin expenses | $124,741 |
| Benefits paid out | $34,062,214 |
| Net assets, start / end of year | $245.0M / $259.3M |
| Active participants, start / end of year | 3,329 / 3,340 |
| Participants with account balances | 4,624 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pension Assurance LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $256,388 reported compensation |
| Capfinancial Partners LLC | $54,668 reported compensation |
| Pension Assurance LLP | $18,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006125724NAL0006471392001, received 2025-10-06, EIN 06-1502009, plan #010, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.