Marathon Petroleum Company LP 401(k) Review & Grade
Marathon Petroleum Thrift Plan
Findlay, OHManufacturing18,260 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$9,873Employer $ per active participant
$15,731Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$8.3BNet plan assets, end of year
$301,493Average balance per account
Score breakdown
- Employer generosity40.7 / 5081th percentile for employer $ per participant
- Low cost22.5 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving13.0 / 1587th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score79 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 90th |
| Employee saving | 87th |
| Peers that auto-enroll | 69% |
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
- Marathon Petroleum Company LP put in about $9,873 per active participant, more than the typical peer ($5,480). 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.
- 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 | $180,274,647 |
| Participant (employee) contributions | $287,240,400 |
| Other contributions (incl. rollovers in) | $58,230,925 |
| Administrative expenses paid from the plan | $1,774,135 |
| Other admin expenses | $1,774,135 |
| Benefits paid out | $721,485,473 |
| Net assets, start / end of year | $7.5B / $8.3B |
| Active participants, start / end of year | 18,199 / 18,320 |
| Participants with account balances | 27,613 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | GJC Cpa's & Advisors |
| Employer stock held by plan | $789,270,009 |
Largest service providers (Schedule C)
| Strategic Advisors, Inc | $1,657,003 reported compensation |
| Fidelity Investments Institutional | $132,139 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002091339NAL0000177619001, received 2025-10-02, EIN 31-1537655, plan #010, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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