Industry · Form 5500 business code 332210
Cutlery & Handtool Mfg: retirement plans
Plans whose sponsor entered this principal business activity code on Form 5500.
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. The business code is chosen by the filer from the list in the Form 5500 instructions.
For plan year 2024, 64 retirement plans in cutlery & handtool mfg with 100 or more participants filed Form 5500: 57 defined contribution and 7 defined benefit. They reported 55,758 participant records and $5.20B in net assets, counting every plan on the form.
The median defined contribution plan held $67,616 per participant, well above the national median of $53,031, and its employer put in $1,884 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $187 per participant against $123 nationally.
Employers contributed $82.3M and participants $142M during the year, and the plans paid out $464M in benefits.
In 2009 the same group numbered 79 plans with $1.84B; by 2024 it was 64 plans (down 19%) and $5.20B (up 183%). From plan year 2023 the 100-participant line counts participants with account balances, which moved many plans to the short form.
Medians compared with all US plans
| Median plan, plan year 2024 | Industry: DC | US: DC | Industry: DB | US: DB |
|---|---|---|---|---|
| Net assets per participant | $67,616 | $53,031 | $69,187 | $86,234 |
| Employer contributions per active participant | $1,884 | $2,174 | $2,229 | $10,244 |
| Schedule C compensation per participant | $187 | $123 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.25% | 0.26% | 0.47% | 0.42% |
| Administrative expenses per participant | $165 | $116 | $367 | $527 |
Medians across plans with 100 or more participants (57 DC and 7 DB plans with a Schedule H here). Fee medians cover plans reporting an amount. DC: defined contribution, such as 401(k) and 403(b). DB: defined benefit pension.
Distribution of DC plans
| Measure | 25th percentile | Median | 75th percentile | Plans |
|---|---|---|---|---|
| Net assets per participant | $44,789 | $67,616 | $109,962 | 57 |
| Employer contributions per active participant | $1,207 | $1,884 | $3,252 | 56 |
| Schedule C compensation per participant | $97.58 | $187 | $258 | 51 |
| Administrative expenses per participant | $51.07 | $165 | $252 | 54 |
Trend by plan year
| Plan year | Plans 100+ | Participants | Net assets | Employer contributions | Participant contributions | Median DC assets / participant | Median DC Sch. C / participant |
|---|---|---|---|---|---|---|---|
| 2025partial | 14 | 23,442 | $2.55B | $39.3M | $98.4M | $95,733 | $200 |
| 2024 | 64 | 55,758 | $5.20B | $82.3M | $142M | $67,616 | $187 |
| 2023 | 69 | 55,629 | $4.83B | $80.6M | $139M | $63,015 | $176 |
| 2022 | 80 | 56,578 | $4.31B | $76.0M | $135M | $50,364 | $143 |
| 2021 | 79 | 54,426 | $5.26B | $69.7M | $126M | $59,037 | $128 |
| 2020 | 80 | 53,463 | $4.93B | $69.9M | $119M | $57,055 | $122 |
| 2019 | 75 | 52,564 | $4.36B | $72.8M | $117M | $52,718 | $130 |
| 2018 | 71 | 50,788 | $3.68B | $104M | $108M | $53,515 | $122 |
| 2017 | 70 | 50,075 | $3.86B | $117M | $100M | $60,902 | $78.50 |
| 2016 | 73 | 50,247 | $3.38B | $142M | $92.8M | $52,540 | $68.69 |
| 2015 | 72 | 50,449 | $3.15B | $97.2M | $89.7M | $50,050 | $59.20 |
| 2014 | 70 | 50,617 | $3.16B | $98.5M | $83.4M | $49,942 | $53.93 |
| 2013 | 68 | 49,883 | $2.96B | $74.9M | $76.3M | $47,796 | $38.06 |
| 2012 | 69 | 49,192 | $2.64B | $82.1M | $72.8M | $42,055 | $43.52 |
| 2011 | 75 | 51,482 | $2.44B | $163M | $70.2M | $39,980 | $36.87 |
| 2010 | 76 | 49,504 | $2.34B | $87.9M | $57.5M | $38,727 | $43.66 |
| 2009 | 79 | 49,164 | $1.84B | $27.2M | $53.3M | $36,164 | $45.40 |
Plan year is the year in which the plan year began. The drop in large plans from 2023 follows a rule change: the 100-participant line now counts participants with account balances, so many plans moved to the short form.
Provider share
Service provider organisations named most often on the Schedule C of the 65 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 65 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| Snap-On Incorporated 401(k) Savings Plan | Snap-On Incorporated | WI | DC | 9,835 | $1.07B | $108,916 | $1,892 | $62.03 |
| Snap-On Incorporated Retirement Plan | Snap-On Incorporated | WI | DB | 9,447 | $971M | $102,787 | — | $248 |
| MSC Industrial Direct 401(k) Plan | MSC Industrial Direct Co., Inc. | NY | DC | 7,697 | $773M | $100,387 | $1,690 | $43.38 |
| Snap-On Incorporated Retirement Plan for Hourly Employees | Snap-On Incorporated | WI | DB | 2,914 | $155M | $53,160 | $0 | $236 |
| Klein Tools Retirement Savings Plan | Klein Tools, Inc. | TX | DC | 2,106 | $207M | $98,286 | $3,682 | $92.28 |
| Apex Tool Group, LLC 401(k) Savings Plan | Apex Tool Group, LLC | MD | DC | 1,800 | $276M | $153,474 | $4,927 | $166 |
| Retirement Plan for Employees of Fairfield Manufacturing Company Inc. | Fairfield Manufacturing Company Inc. | IN | DB | 1,420 | $101M | $70,953 | $31,394 | — |
| Fiskars Group 401(k) Retirement Savings Plan | Fiskars Brands, Inc. | WI | DC | 860 | $122M | $142,039 | $3,760 | $240 |
| The L.S. Starrett Company 401(k) Savings Plan | The L.S. Starrett Company | MA | DC | 749 | $29.0M | $38,742 | $2,368 | $238 |
| Marshalltown Company 401(k) Savings Plan | Marshalltown Company | IA | DC | 690 | $37.1M | $53,827 | $1,407 | $218 |
| Leatherman Tool Group 401(k) Retirement Plan | Leatherman Tool Group, Inc. | OR | DC | 659 | $46.9M | $71,170 | $3,385 | $200 |
| Knape & Vogt Retirement Savings Plan | Knape & Vogt Manufacturing Co. | MI | DC | 622 | $41.3M | $66,325 | $1,885 | $303 |
| Zwilling J.A. Henckels, LLC 401(k) Plan | Zwilling J.A. Henckels, LLC | NY | DC | 610 | $22.1M | $36,278 | $994 | $79.16 |
| Spirol 401(k) Savings/retirement Plan | Spirol International Corporation | CT | DC | 586 | $34.6M | $58,985 | $648 | $7.83 |
| Great Neck Tools, Inc. 401(k) Plan | Great Neck Tools, Inc. 401(k) Plan | NY | DC | 565 | $20.5M | $36,278 | $1,433 | $37.91 |
| Cutco Corporation Hourly Employees Pension Plan | Cutco Corporation | NY | DB | 557 | $38.5M | $69,187 | $0 | $350 |
| Spirol International Holding Corp. ESOP & MPP Plan | Spirol International Holding Corp. | CT | DC | 522 | $24.7M | $47,357 | $3,207 | $106 |
| Benchmade Knife Co., Inc. Profit Sharing Plan | Benchmade Knife Co., Inc. | OR | DC | 517 | $31.2M | $60,373 | $2,651 | $123 |
| Estwing Manufacturing Company Employees 401(k) Plan | Estwing Manufacturing Co., Inc. | IL | DC | 512 | $22.9M | $44,789 | $7,189 | — |
| Great Star Tools USA, Inc. 401(k) Plan | Arrow Fastener Co., LLC | NJ | DC | 509 | $29.7M | $58,395 | $2,883 | $216 |
| Knape & Vogt Manufacturing Company Pension Plan | Knape & Vogt Manufacturing Company | MI | DB | 486 | $17.6M | $36,293 | $4,457 | $195 |
| Cutco Corporation Salaried Employees Pension Plan | Cutco Corporation | NY | DB | 482 | $25.6M | $53,076 | $0 | $265 |
| Cutco Corporation Salaried Employees' Savings Plan | Cutco Cutlery Corporation | NY | DC | 458 | $168M | $366,025 | $6,310 | $410 |
| Channellock, Inc. 401(k) Plan for Bargaining Unit Employees | Channellock, Inc. | PA | DC | 453 | $13.0M | $28,787 | $1,481 | $152 |
| Cutco Corporation Salaried Employees' Savings Plan | Cutco Cutlery Corporation | NY | DC | 443 | $147M | $330,762 | $6,522 | $479 |
| Buck Knives, Inc. Profit Sharing and Retirement Plan | Buck Knives, Inc. | ID | DC | 441 | $12.8M | $29,069 | $382 | $164 |
| Kyocera SGS Precision Tools 401(k) Profit Sharing Plan | Kyocera SGS Precision Tools, Inc. | OH | DC | 416 | $41.6M | $100,107 | $2,070 | $157 |
| Retirement Plan for Employees of Channellock, Inc. | Channellock, Inc. | PA | DB | 414 | $46.6M | $112,515 | $59,262 | $248 |
| Cutco Cutlery Corporation Hourly Savings Plan | Cutco Cutlery Corporation | NY | DC | 385 | $90.3M | $234,552 | $5,453 | $302 |
| Manitowoc Tool & Machining, LLC 401(k) Profit Sharing Plan | Manitowoc Tool & Machining, LLC | WI | DC | 375 | $30.2M | $80,658 | $2,281 | $302 |
| The Cornwell Quality Tools Company Employee Stock Ownership Plan | Cornwell Quality Tools Company | OH | DC | 361 | $56.7M | $157,113 | $16,181 | — |
| Diamond Products Limited 401(k) and Profit Sharing Plan | Diamond Products Limited | OH | DC | 357 | $60.6M | $169,733 | $3,987 | $331 |
| The DMC 401(k) Benefit Plan | Daniels Manufacturing Corporation | FL | DC | 353 | $24.9M | $70,568 | $1,518 | $47.21 |
| Cornwell Quality Tools Company Profit Sharing 401(k) Plan | Cornwell Quality Tools Company | OH | DC | 353 | $12.9M | $36,591 | $29 | $153 |
| Lisle Corporation Employees' Profit Sharing Retirement Plan | Lisle Corporation | IA | DC | 345 | $75.1M | $217,612 | $7,814 | $47.34 |
| Ace Industrial Supply, Inc. 401(k) Profit Sharing Plan | Ace Industrial Supply Inc. | CA | DC | 314 | $3.8M | $12,147 | $721 | $145 |
| Vermont Precision Tools, Inc. 401(k) Plan XL1-VT | Vermont Precision Tools, Inc. | VT | DC | 312 | $12.9M | $41,386 | $653 | $213 |
| Kai USA, Ltd. 401(k) Plan | Kai USA Ltd. | OR | DC | 311 | $24.0M | $77,164 | $2,077 | $43.18 |
| Affinity Group, Inc. Retirement Plan | Affinity Group, Inc. | MA | DC | 307 | $49.2M | $160,204 | $6,194 | $270 |
| Manitowoc Tool & Manufacturing, LLC 401(k) Profit Sharing Plan | Manitowoc Tool & Manufacturing, LLC | WI | DC | 286 | $15.6M | $54,701 | $1,533 | $74.11 |
By plan size
By state
Questions and answers
How many retirement plans are there in cutlery & handtool mfg?
64 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 87 pension plans on the full form. Smaller plans file Form 5500-SF and are counted separately where shown.
What is the typical 401(k) balance in cutlery & handtool mfg?
The median defined contribution plan reported $67,616 in net assets per participant (middle half of plans: $44,789 to $109,962); nationally it was $53,031. This is a plan-level average that includes former employees, not a typical person's balance.
What do employers contribute in cutlery & handtool mfg?
The median defined contribution plan received $1,884 in employer contributions per active participant, against $2,174 nationally. Plans with no employer contribution are included at zero.
What are average 401(k) fees in cutlery & handtool mfg?
Among defined contribution plans that report any Schedule C compensation, the median was $187 per participant and 0.25% of net assets (nationally $123 and 0.26%). Schedule C leaves out fund expense ratios and fees the employer pays, so it understates total cost.
Where does this come from?
Form 5500 annual reports in the EBSA research files, with filings received through 24 Aug 2026. Medians are computed by this site across plans with 100 or more participants.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files, public domain, with filings received through 24 Aug 2026. Totals count every pension plan on the full form; medians and the plan list cover plans with 100 or more participants. See the methodology.