Plan Snapshot
- Plan Sponsor: Illinois Tool Works INC.
- Sponsor EIN: 361258310
- Sponsor Address: 155 HARLEM AVE, GLENVIEW, IL, 60025
- Plan Type: 401(k)
- Total Participants: 15,573
- Total Assets: $4.2B
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 15,573 | $4.2B | $101.0M | $133.0M |
| 2023 | 15,838 | $4.1B | $100.4M | $130.8M |
| 2022 | 16,489 | $3.7B | $98.0M | $124.6M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| GREAT-WEST TRUST COMPANY, LLC | RECORDKEEPER | $1,619,438 | — | $1,619,438 |
| NORTHERN TRUST COMPANY | NONE | $247,394 | — | $247,394 |
| FIDUICIENT ADVISORS | NONE | $199,000 | — | $199,000 |
| GRANT THORNTON LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- GRANT THORNTON LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,065,832
- Estimated Expense Ratio: 0.049% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $2,065,832 | $199,000 | — | — | — |
| 2023 | $2,251,306 | $199,000 | — | — | — |
| 2022 | $2,438,525 | $445,924 | $1,992,601 | — | — |