Mcwane, Inc. 401(k) Review & Grade
Mcwane Hourly 401(k) Retirement Plan
Birmingham, ALManufacturing2,164 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,640Employer $ per active participant
$2,882Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$51.0MNet plan assets, end of year
$21,371Average balance per account
Score breakdown
- Employer generosity17.0 / 5034th percentile for employer $ per participant
- Low cost10.2 / 2541th percentile for low admin cost vs. same-size plans
- Employee saving3.2 / 1522th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 41th |
| Employee saving | 22th |
| Peers that auto-enroll | 59% |
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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
- Mcwane put in about $1,640 per active participant, below the typical peer ($2,320). 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 | $3,549,533 |
| Participant (employee) contributions | $6,235,571 |
| Other contributions (incl. rollovers in) | $105,474 |
| Administrative expenses paid from the plan | $138,878 |
| Investment advisory & management fees | $37,641 |
| Benefits paid out | $5,577,145 |
| Net assets, start / end of year | $42.3M / $51.0M |
| Active participants, start / end of year | 2,098 / 2,230 |
| Participants with account balances | 2,388 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Warren Averett LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $101,237 reported compensation |
| Merrill Lynch | $33,377 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250619121146NAL0003127249001, received 2025-06-19, EIN 63-0139000, plan #024, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.