401(k) · DOL Form 5500 · 2023

Altair Engineering, Inc. 401(k) Plan

Data updated 2026-08-25

$232M
Total assets Near avg plan size
1,023
Participants Near avg headcount
95th
Percentile by assets National rank
$226,532
Avg per participant Above avg balance/head
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Official DOL plan name: Altair Salary Reduction Profit Sharing Plan · Sponsored by Altair Engineering, Inc. · Michigan · Information & Media

$232M in assets, 1,023 participants

Altair Engineering, Inc.'s Altair Salary Reduction Profit Sharing Plan reported $232M in total assets and 1,023 participants in its 2023 DOL Form 5500 filing, ranking in the 95th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #2,613 in Information & Media (2,818 peers)

Where Altair Salary Reduction Profit Sharing Plan sits by assets

Altair Salary Reduction Profit Sharing Plan sits in the top 5% of all filed plans by assets, $232M for 1,023 participants (~$226,532/participant), up 24.4% in 2023.

#2,613
in Information & Media (2,818 peers)
+24.4%
assets growth YoY
2.3×
vs typical plan assets (national mean)

Altair Salary Reduction Profit Sharing Plan's outsized position by total assets

Altair Salary Reduction Profit Sharing Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$231,742,186 Top 5% higher than 95% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Altair Salary Reduction Profit Sharing Plan's large-plan peer group by participant headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Altair Salary Reduction Profit Sharing Plan lands in the large band (1,023 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Altair Salary Reduction Profit Sharing Plan reported net income rose from -$33M in the plan year 2022 filing to $42M in the plan year 2023 filing.
  • Altair Salary Reduction Profit Sharing Plan end-of-year assets rose from $186M in the plan year 2022 filing to $232M in the plan year 2023 filing.
  • Altair Salary Reduction Profit Sharing Plan reported participants fell from 1,064 in the plan year 2022 filing to 1,023 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Published 5500 schedule card

Filing strip 382591828 · Altair Engineering, Inc. PY 2023 · 401(k)

Altair Salary Reduction Profit Sharing Plan · $232M · 1,023 · 95th

  • 5500 $232M
  • 5500 1,023
  • 5500 95th
  • 5500 401(k)
  • 5500 near Mann+Hummel 401(k) Plan
  • 5500 ind #2613

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Information & Media retirement plans → · Plans in Michigan →

Altair Salary Reduction Profit Sharing Plan in the asset neighbourhood

Hub Group Employee Profit Sharing and Trust PlanHub Group Employee Profit Sh…$232MAltair Salary Reduction Profit Sharing PlanAltair Salary Reduction Prof…$232MMann+Hummel 401(k) Plan$232MKawasaki Motors Manufacturing Corp., U.S.a. 401(k) Savings PlanKawasaki Motors Manufacturin…$232MOil States International, Inc. Retirement PlanOil States International, In…$232M
End-of-year total assets ($M) among Altair Salary Reduction Profit Sharing Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$186M
Net Assets (End of Year)$232M
Net Income$42M
Employer EIN382591828
Plan Effective Date1987-02-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Altair Engineering, Inc.)

Sponsor-wide plan assets over time

All Altair Engineering, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$263M 41.10235390178668% vs 2022
2024 filing year
$150M$200M$250M$300M 202220232024 $186M $263M ▲ +41.1%
Year Plans Participants Total Assets
2022 1 1,064 $186M
2023 1 1,023 $232M
2024 1 1,020 $263M

Nearby 401(k) Plans in Michigan

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Altair Salary Reduction Profit Sharing Plan vs. nearby 401(k) plans in Michigan, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 -50510152025 Total assets ($B) Participants Altair Salary Reduction Profit Sharing Plan, Total assets ($B): 0.231742186 · Participants: 1023Altair Salary Reduction Profit Sharing PlanGeneral Motors Retirement Savings Plan for Salaried Employees in the United States, Total assets ($B): 20.378449285 · Participants: 47299General Motors Retirement Savings Plan for Salaried Employees in the United StatesFord Motor Co. Savings and Stock Investment Plan for Salaried Employees, Total assets ($B): 15.588575271 · Participants: 30516Ford Motor Co. Savings and Stock Investment Plan for Salaried EmployeesThe Dow Chemical Company Employees' Savings Plan, Total assets ($B): 10.084842211 · Participants: 18088The Dow Chemical Company Employees' Savings PlanThe General Motors Personal Savings Plan for Hourly-Rate Employees in the United States, Total assets ($B): 8.580684909 · Participants: 40393The General Motors Personal Savings Plan for Hourly-Rate Employees in the United StatesFord Motor Co. Tax-Efficient Savings Plan for Hourly Employees, Total assets ($B): 7.617084451 · Participants: 59195Ford Motor Co. Tax-Efficient Savings Plan for Hourly Employees
Altair Salary Reduction Profit Sharing Plan vs. nearby 401(k) plans in Michigan, assets vs. participants
Compare Altair Salary Reduction Profit Sharing Plan side-by-side with 3 peers →

Altair Salary Reduction Profit Sharing Plan's out-of-state 401(k) peers by assets and headcount

Outside Michigan, the nearest 401(k) by assets is Mann+Hummel 401(k) Plan in NC ($232M); by covered participants it is Martin's Point 401(k) Plan in ME (1,023 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($232M here).

Similar participant headcount

Nearest other-state filings by covered participants (1,023 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Altair Salary Reduction Profit Sharing Plan assets move in 2023? ▼
Altair Salary Reduction Profit Sharing Plan grew sharply - up 24.4% during 2023, from $186M to $232M. Reported net income was $42M.
How have Altair Engineering, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Altair Engineering, Inc.'s sponsor-wide assets grew 41.1%, from $186M to $263M.
Where does Altair Salary Reduction Profit Sharing Plan rank by assets among Form 5500 filers? ▼
Altair Salary Reduction Profit Sharing Plan ranks in the 95th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 5% of all filed plans by assets).
Which 401(k) plans are similar in size to Altair Salary Reduction Profit Sharing Plan? ▼
Among 401(k) plans in other states, the closest by assets is Mann+Hummel 401(k) Plan in NC ($232M, 5,427 participants).
Which 401(k) plans cover a similar participant headcount to Altair Salary Reduction Profit Sharing Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Martin's Point 401(k) Plan in ME (1,023 participants, $144M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 382591828.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.