Martin Transportation Systems, Inc 401(k) Review & Grade
Transportation and Logistics 401(k) Plan
Byron Center, MITransportation & Warehousing1,234 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$446Employer $ per active participant
$1,715Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$25.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity11.4 / 5023th percentile for employer $ per participant
- Low cost21.7 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving3.9 / 1526th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 87th |
| Employee saving | 26th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,346 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Martin Transportation Systems put in about $446 per active participant, below the typical peer ($1,070). 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 | $550,752 |
| Participant (employee) contributions | $2,117,284 |
| Other contributions (incl. rollovers in) | $383,819 |
| Administrative expenses paid from the plan | $12,576 |
| Contract administrator fees | $12,576 |
| Benefits paid out | $2,831,654 |
| Net assets, start / end of year | $22.4M / $25.8M |
| Active participants, start / end of year | 1,261 / 1,208 |
| Participants with account balances | 534 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | D.K. Weiss, Holt & Associates, PLLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $12,576 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250619192231NAL0001937843001, received 2025-06-19, EIN 38-2842208, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.