Parker Retirement Savings Plan
Parker Hannifin Corporation · Cleveland, OH · EIN 340451060 · Plan 075 · Form 5500 for plan year 2024
This is a pooled multiple-employer plan, so its participant and asset totals span many unrelated employers.
What Parker-Hannifin put into the plan, per active participant
$6,582
Parker-Hannifin Corporation put $6,582 into this plan for each of its 28,729 active participants in plan year 2024. That is the whole employer side, matching money, profit sharing, non-elective and safe-harbor contributions and reallocated forfeitures together, because the Form 5500 reports them on one line, so it is not the match rate. This filing covers many unrelated employers under one plan, so the figure is an average across all of them rather than one employer's behaviour.
It is kept out of every peer group and takes no score.
What this figure cannot separate: how much Parker-Hannifin pays, and how much it puts in
This is dollars, not a rate. A Form 5500 carries no payroll, so the figure reflects both how much the employer puts in and how much the employer pays: two plans running the same formula report different amounts when one pays better. Crossing the peer group with industry holds most of that difference still, and none of it disappears.
This is one plan year, not an average. A true-up, a plan merger or a one-off contribution moves a single year on its own.
Source: Form 5500 filing for the plan year ended December 31, 2024, received by the DOL September 11, 2025 · DOL EFAST2 ↗
The $6,582 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. Parker-Hannifin Corporation also files a Form 11-K, which states the match formula on its own for plan year 2025: the section below reads $2,475 a year at a $49,500 salary, and the same filing states employer contributions made outside the match. That second figure is what the formula pays one worker on that salary, and not an amount either filing reports. The two figures cover different plan years and measure different things, so neither one is the other one corrected.
What the plan cost, per participant
$74.84
The plan paid $74.84 per participant in plan-paid administrative expenses in plan year 2024, more expensive than 68% of plans with 5,000+ participants. The middle plan of that size paid $54.84.
Why a plan this big pays less per person before anything else
Bigger plans pay less per head by construction, because the same negotiated bill divides across more people. That is why this ranking sits inside the plan's own size cohort and is never taken across all plans.
Schedule H reports only what came out of plan assets. Fees the sponsor pays directly, and fees taken inside fund expense ratios, never appear here, so this is a floor and not the all-in cost.
401(k) Monitor Score
Not scored
This is a pooled plan covering many unrelated employers, so its figures are averages across a client book. It takes no score, and it is kept out of every peer group so that it does not move anybody else's standing.
It keeps whichever of the two it does report, above. Nothing is filled in from an average, from another year or from another plan, because a two-part score computed on one part is a different measure wearing the same name.
What the score would read, on a filing that carries both: Where this plan stands against plans of its size and industry on two amounts its Form 5500 reports: employer money in per active person, and plan-paid cost per person. It reads no match formula, no vesting schedule and no fund lineup, because a Form 5500 states none of them.
On this page: the match and vesting terms · what to check next · every figure on the filing · fees itemised · the plans this one is ranked against · service providers
The match and vesting terms, from a Form 11-K
The match formula and the vesting schedule are stated in a Form 11-K, which is filed only by employers whose plan holds company stock. A Form 5500 reports neither.
What Parker-Hannifin puts in
$2,475
a year, at a $49,500 salary.
The match paragraph, word for word
“The Company generally contributes matching contributions to provide an amount equal to 100 percent of the first five percent of participants' pre-tax or Roth contributions. The Company does not match after-tax contributions. Participants may direct their Company matching funds to any investment fund within the Plan; the default option is the investment fund designated by the Company's Investment Committee. Matching contributions made in company stock are held in an Employee Stock Ownership Plan ("ESOP"). Similar to participant contributions, Company matching contributions may be changed at any time. Also, the Company makes an annual contribution to eligible participants' RIA accounts. A flat three percent annual contribution of eligible compensation, with some grandfathered participants receiving annual contributions calculated at a higher percent of eligible compensation. Under the RIA, no participant receives less than the flat three percent contribution.”
What you contribute to collect all of it
Contribute at least 5% of your pay to collect the full match.
That is $2,475 a year at a $49,500 salary, and it scales with your own.
Vesting score
100 out of 100
How fast the employer’s money becomes yours. Higher than 48% of the 253 schedules we have scored.
It measures vesting speed and nothing else. It says nothing about the size of the match, what the plan charges, or the funds inside it.
Share of the employer's money that is the worker's at hire and at each of the first 6 anniversaries: 100%, 100%, 100%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Contributions are always fully vested, except for the RIA contributions. Upon completion of three years of employment, RIA contributions become fully vested and may be withdrawn from the Plan only after termination.”
The wait before the match starts and the year-end true-up appear above when the filing states them. Neither is part of the score, and a filing that is silent on one of them is not a plan without it.
What the plan costs, against plans of its size
68th percentile
$74.84 per participant in plan-paid administrative cost, more expensive than 68% of plans with 5,000+ participants.
The match, vesting and eligibility terms above are read from the Form 11-K filed by Parker-Hannifin Corporation, whose page states the full formula, the vesting schedule and the sentence behind each one.
Matched to this employer by sponsor name, not by an identifier stated in the filing. That Form 11-K covers Parker Retirement Savings Plan.
What to check next
This filing is not about one employer
One Form 5500 covers many unrelated employers here, so every figure on this page is an average across all of them. The match, the vesting schedule and the fees that apply to one worker are set by that worker’s own employer, and none of the three is stated in this filing.
Collecting the whole match
Parker-Hannifin’s Form 11-K pays the whole match at 5% of pay, which is $2,475 a year at a $49,500 salary and scales with your own. Your payslip and your Fidelity NetBenefits ↗ account both show the rate you set. A rate below 5% collects less than the whole match.
That Form 11-K covers plan year 2025. The plan’s Summary Plan Description states the terms in force, and the plan administrator must provide it to participants on request.
Your own numbers are not on this page
Every figure here is the whole plan for plan year 2024, taken from one filing and divided by headcounts. Your own contribution rate, your balance and the fees taken from your account are on your recordkeeper’s site, which this filing names as Fidelity NetBenefits ↗. What you may put in during a year is set by the IRS and not by the plan: this year’s limits ↗.
Key figures
| Total plan assets, end of year | $9,010,073,432 |
|---|---|
| Net assets | $9,010,073,432 |
| Participants, beginning of year | 38,313 |
| Of which active | 28,729 |
| Plan type | Multiple employer |
| Size cohortThe peer group we rank fees against. | 5,000+ participants |
| Employer share of the money that went in, plan year 2024The rest came from employees, who put in $247,434,355. The share falls when employees save more, so a plan whose staff contribute heavily reads lower here through no act of the employer. It is printed as a fact and it is not part of the score. | 43% |
Plan-paid administrative expenses
The plan paid $2,867,267 in administrative expenses in plan year 2024, across 38,313 participants: $74.84 per participant.
| Contract administrator fees | $0 |
|---|---|
| Professional fees | not reported in filing |
| Investment management fees | $2,867,267 |
| Other administrative fees | $0 |
These are plan-paid expenses from Schedule H only. Fees the sponsor pays directly, and fees embedded in fund expense ratios, never appear here. This figure is a floor, not the all-in cost, and a low number is not “free”.
The plans this one is ranked against
Fees on this page are ranked against the 5,000+ participant cohort, where the median plan pays $54.84 per participant. The sponsor files from Ohio, one of 2,465 plans on file there, at a median of $134.01 per participant. Its business code places the plan in industrial and materials manufacturing, one of 6,008 on file, which run to a median of $142.19.
Plans of a similar size in Ohio
| Plan | Participants | Cost per participant |
|---|---|---|
| Supply Chain Retirement Savings PlanExel Inc. | 40,425 | $19.71 |
| Abercrombie & Fitch Co. Savings And Retirement PlanAbercrombie & Fitch Co. | 38,739 | $9.29 |
| Eaton Savings PlanEaton Corporation | 36,515 | $20.04 |
| Bath & Body Works, Inc. 401(k) Savings And Retirement PlanL Brands Service Company LLC | 33,546 | $43.05 |
Service providers (Schedule C)
Recordkeeper: Fidelity Investments (as filed: “FIDELITY INVESTMENTS INSTITUTIONAL”)
10,593 plans on file name Fidelity Investments as their recordkeeper, at a median of $97.71 per participant.
| Provider | Service codes | Direct comp. ($) | Indirect comp. ($) |
|---|---|---|---|
| Fidelity Investments Institutional | 65, 71, 64, 60, 37 | 2,151,168 | 0 |
| Callan LLC | 27, 16 | 650,000 | not reported |
| Alight Solutions LLC | 49, 16 | 70,707 | not reported |
| Cliftonlarsonallen LLP | 16, 10 | 33,674 | not reported |
| Aon Consulting, Inc. | 16 | 10,900 | not reported |
Useful links
- Find a 401(k) you left at an old job ↗
The DOL's Retirement Savings Lost & Found. Free and official.
- Look up this plan's full Form 5500 ↗
The DOL's own filing search. Search by plan or sponsor name.
- Download this plan's data (CSV) ↗
Every field on this page, one row, ready for a spreadsheet.
Source
| Dataset | DOL EFAST2 Form 5500 bulk data (FOIA) |
|---|---|
| Form year | 2024 |
| Filing ACK_ID | 20250911151028NAL0000907440001 |
| Dataset last refreshed | July 28, 2026 |
Bulk dataset at askebsa.dol.gov ↗ · Look up the filing on EFAST2 ↗
Filings lag by design: a plan can file up to 9½ months after its year ends, so this is the newest data on file. Why filings lag
Cite this page
401(k) Monitor, "Parker Retirement Savings Plan: Form 5500 facts", from DOL EFAST2 filing 20250911151028NAL0000907440001, plan year ended December 31, 2024.