Madix, Inc. 401(k) Review & Grade
Madix, Inc. 401(k) Profit Sharing Plan
Terrell, TXManufacturing2,024 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,041Employer $ per active participant
$1,875Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$72.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity8.9 / 5018th percentile for employer $ per participant
- Low cost10.0 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving1.5 / 1510th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 18th |
| Lower admin cost | 40th |
| Employee saving | 10th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $8,097 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Madix put in about $1,041 per active participant, below the typical peer ($2,320). 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.
- 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.
- 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 | $2,107,752 |
| Participant (employee) contributions | $3,796,946 |
| Other contributions (incl. rollovers in) | $351,551 |
| Administrative expenses paid from the plan | $214,636 |
| Benefits paid out | $8,466,967 |
| Net assets, start / end of year | $67.9M / $72.9M |
| Active participants, start / end of year | 1,660 / 2,389 |
| Participants with account balances | 902 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Jamisonmoneyefarmer PC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $95,343 reported compensation |
| Wells Fargo Clearing Services LLC | $46,839 reported compensation |
| Morgan Stanley Smith Barney LLC | $46,624 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250804135916NAL0001039937001, received 2025-08-04, EIN 75-1094810, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.