Marmon Holdings, Inc 401(k) Review & Grade
Marmon Employees' Retirement Plan
Chicago, ILManufacturing14,270 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,906Employer $ per active participant
$4,139Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$1.7BNet plan assets, end of year
$85,865Average balance per account
Score breakdown
- Employer generosity22.3 / 5045th percentile for employer $ per participant
- Low cost11.4 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 45th |
| Employee saving | 14th |
| Peers that auto-enroll | 69% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($416,508 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $45,327 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Marmon Holdings put in about $4,906 per active participant, below the typical peer ($5,480). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $70,011,619 |
| Participant (employee) contributions | $59,063,069 |
| Other contributions (incl. rollovers in) | $14,534,728 |
| Administrative expenses paid from the plan | $1,479,655 |
| Contract administrator fees | $70,448 |
| Investment advisory & management fees | $155,776 |
| Benefits paid out | $180,659,056 |
| Net assets, start / end of year | $1.4B / $1.7B |
| Active participants, start / end of year | 14,364 / 14,175 |
| Participants with account balances | 19,735 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $1,206,632 reported compensation |
| Plante & Moran PLLC | $105,547 reported compensation |
| Willis Towers Watson Midwest Inc | $70,448 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014112007NAL0001276547001, received 2025-10-14, EIN 36-3104690, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.