M. A. Mortenson Company 401(k) Review & Grade
M. A. Mortenson Company Retirement Savings Plan and Trust for Trade Employees
Minneapolis, MNConstruction3,041 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,114Employer $ per active participant
$2,089Employee $ saved per active participant
0.94%Direct admin cost, % of plan assets
$38.7MNet plan assets, end of year
$9,141Average balance per account
Score breakdown
- Employer generosity15.3 / 5031th percentile for employer $ per participant
- Low cost1.2 / 255th percentile for low admin cost vs. same-size plans
- Employee saving2.8 / 1519th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 2,500–9,999 active participants (76 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 31th |
| Lower admin cost | 5th |
| Employee saving | 19th |
| Peers that auto-enroll | 57% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- M. A. Mortenson put in about $1,114 per active participant, below the typical peer ($1,965). 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.
- Direct plan expenses (0.94% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $3,388,319 |
| Participant (employee) contributions | $6,352,501 |
| Other contributions (incl. rollovers in) | $243,823 |
| Administrative expenses paid from the plan | $322,280 |
| Other admin expenses | $9,025 |
| Benefits paid out | $4,589,088 |
| Net assets, start / end of year | $30.0M / $38.7M |
| Active participants, start / end of year | 2,347 / 3,735 |
| Participants with account balances | 4,233 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $287,755 reported compensation |
| Grant Thornton LLP | $25,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007165509NAL0012042754001, received 2025-10-07, EIN 41-0740923, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.