The Procter & Gamble Company 401(k) Review & Grade
The Procter & Gamble Savings Plan
Cincinnati, OHManufacturing30,026 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3Employer $ per active participant
$8,423Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$5.4BNet plan assets, end of year
$133,756Average balance per account
Score breakdown
- Employer generosity0.3 / 501th percentile for employer $ per participant
- Low cost16.3 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving7.2 / 1548th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 1th |
| Lower admin cost | 65th |
| Employee saving | 48th |
| Peers that auto-enroll | 69% |
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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 ($73,268 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $168,009 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Procter & Gamble put in about $3 per active participant, below the typical peer ($5,480). 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 | $96,040 |
| Participant (employee) contributions | $252,919,399 |
| Other contributions (incl. rollovers in) | $10,314,381 |
| Administrative expenses paid from the plan | $3,057,714 |
| Contract administrator fees | $1,478,859 |
| Investment advisory & management fees | $1,221,225 |
| Other admin expenses | $3,150 |
| Benefits paid out | $408,026,962 |
| Net assets, start / end of year | $5.1B / $5.4B |
| Active participants, start / end of year | 29,629 / 30,424 |
| Participants with account balances | 40,150 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
| Employer stock held by plan | $1,232,377,400 |
Largest service providers (Schedule C)
| Alight Solutions LLC | $1,659,429 reported compensation |
| Blackrock | $1,097,823 reported compensation |
| Northern Trust Company | $173,910 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251205083856NAL0003062993001, received 2025-12-05, EIN 31-0411980, plan #042, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.