Macallister Machinery Co., Inc 401(k) Review & Grade
Macallister Profit Sharing & Savings Plan
Indianapolis, INWholesale Trade2,220 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,670Employer $ per active participant
$8,222Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$440.0MNet plan assets, end of year
$166,469Average balance per account
Score breakdown
- Employer generosity43.9 / 5088th percentile for employer $ per participant
- Low cost21.9 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving13.1 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score86 / 100 · Grade A
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 88th |
| Employee saving | 88th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $88 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Macallister Machinery Co. put in about $4,670 per active participant, more than the typical peer ($1,792). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $10,366,665 |
| Participant (employee) contributions | $18,253,789 |
| Other contributions (incl. rollovers in) | $1,556,503 |
| Administrative expenses paid from the plan | $200,330 |
| Investment advisory & management fees | $32,557 |
| Benefits paid out | $29,305,253 |
| Net assets, start / end of year | $381.4M / $440.0M |
| Active participants, start / end of year | 2,188 / 2,252 |
| Participants with account balances | 2,643 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $167,773 reported compensation |
| Empower Advisory Group, LLC | $32,557 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730090049NAL0003787905001, received 2025-07-30, EIN 35-0791060, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.