Mat Holdings, Inc. 401(k) Review & Grade
Mat Holdings, Inc. 401(k) Plan
Long Grove, ILWholesale Trade1,004 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,589Employer $ per active participant
$3,852Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$63.7MNet plan assets, end of year
$109,041Average balance per account
Score breakdown
- Employer generosity21.8 / 5044th percentile for employer $ per participant
- Low cost18.2 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving5.5 / 1537th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 73th |
| Employee saving | 37th |
| Peers that auto-enroll | 53% |
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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 ($15,150 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Mat Holdings put in about $1,589 per active participant, below the typical peer ($1,792). 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 | $1,596,592 |
| Participant (employee) contributions | $3,869,585 |
| Other contributions (incl. rollovers in) | $752,797 |
| Administrative expenses paid from the plan | $63,655 |
| Contract administrator fees | $63,655 |
| Benefits paid out | $6,588,592 |
| Net assets, start / end of year | $56.8M / $63.7M |
| Active participants, start / end of year | 1,013 / 996 |
| Participants with account balances | 584 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Smith & Howard, PC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $63,655 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730073503NAL0004317521001, received 2025-07-30, EIN 20-5589196, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.