Materne North America Corp. 401(k) Review & Grade
Materne North America 401(k) Retirement Plan
New York, NYManufacturing902 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,912Employer $ per active participant
$6,052Employee $ saved per active participant
0.37%Direct admin cost, % of plan assets
$50.9MNet plan assets, end of year
$51,452Average balance per account
Score breakdown
- Employer generosity30.9 / 5062th percentile for employer $ per participant
- Low cost8.3 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving9.6 / 1564th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 33th |
| Employee saving | 64th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $265 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Materne North America put in about $2,912 per active participant, more than the typical peer ($2,320). 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.
- Direct plan expenses (0.37% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $2,624,811 |
| Participant (employee) contributions | $5,455,888 |
| Other contributions (incl. rollovers in) | $348,974 |
| Administrative expenses paid from the plan | $166,205 |
| Contract administrator fees | $166,205 |
| Benefits paid out | $2,693,405 |
| Net assets, start / end of year | $39.3M / $50.9M |
| Active participants, start / end of year | 830 / 973 |
| Participants with account balances | 989 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Clark, Shaefer, Hackett & Co. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $166,202 reported compensation |
| Ubs Financial Services Inc | $65,942 reported compensation |
| Legacy Retirement Solutions, LLC | $21,653 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009130512NAL0011002272001, received 2025-10-09, EIN 27-3542029, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.