Mccoy Group, Inc. 401(k) Review & Grade
Mccoy Group, Inc. 401(k) Profit Sharing Plan
Dubuque, IARetail Trade4,010 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,454Employer $ per active participant
$6,026Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$266.7MNet plan assets, end of year
$58,700Average balance per account
Score breakdown
- Employer generosity38.7 / 5077th percentile for employer $ per participant
- Low cost8.0 / 2532th percentile for low admin cost vs. same-size plans
- Employee saving13.9 / 1593th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 2,500–9,999 active participants (183 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 32th |
| Employee saving | 93th |
| Peers that auto-enroll | 42% |
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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
- Mccoy Group put in about $1,454 per active participant, more than the typical peer ($650). 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 (0.22% of assets) are well above similar-size plans (0.12%). 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 | $5,828,627 |
| Participant (employee) contributions | $24,165,663 |
| Other contributions (incl. rollovers in) | $2,603,982 |
| Administrative expenses paid from the plan | $537,823 |
| Contract administrator fees | $537,823 |
| Benefits paid out | $27,749,253 |
| Net assets, start / end of year | $230.6M / $266.7M |
| Active participants, start / end of year | 3,999 / 4,021 |
| Participants with account balances | 4,544 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $546,151 reported compensation |
| Global Retirement Partners LLC | $38,500 reported compensation |
| Wellth Advisory Services, LLC | $27,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014151031NAL0004348688001, received 2025-10-14, EIN 39-1428371, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.