Mcnational, Inc. 401(k) Review & Grade
Mcnational 401(k) Plan
South Point, OHConstruction780 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$811Employer $ per active participant
$2,068Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$21.8MNet plan assets, end of year
$29,758Average balance per account
Score breakdown
- Employer generosity13.2 / 5026th percentile for employer $ per participant
- Low cost16.7 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving3.4 / 1523th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 26th |
| Lower admin cost | 67th |
| Employee saving | 23th |
| Peers that auto-enroll | 44% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($4,568 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
- Mcnational put in about $811 per active participant, below the typical peer ($1,672). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $633,313 |
| Participant (employee) contributions | $1,614,233 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $28,707 |
| Contract administrator fees | $6,700 |
| Investment advisory & management fees | $19,407 |
| Other admin expenses | $2,600 |
| Benefits paid out | $3,921,879 |
| Net assets, start / end of year | $21.4M / $21.8M |
| Active participants, start / end of year | 804 / 757 |
| Participants with account balances | 733 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Kelley Galloway Smith Goolsby, PSC |
Largest service providers (Schedule C)
| Global Retirement Partners | $43,005 reported compensation |
| Voya Insurance and Annuity Co | $14,366 reported compensation |
| Cbiz Benefits and Insurance | $10,556 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015173222NAL0002814755001, received 2025-10-15, EIN 31-1235314, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.