Mechanical Systems & Services 401(k) Review & Grade
Mechanical Systems & Services, Inc. Retirement Savings Plan
Charlotte, NCConstruction683 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,538Employer $ per active participant
$4,997Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$33.9MNet plan assets, end of year
$60,886Average balance per account
Score breakdown
- Employer generosity23.3 / 5047th percentile for employer $ per participant
- Low cost9.7 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving9.6 / 1564th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 39th |
| Employee saving | 64th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $19,148 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mechanical Systems & Services put in about $1,538 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.
- 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 | $1,050,299 |
| Participant (employee) contributions | $3,412,654 |
| Other contributions (incl. rollovers in) | $214,692 |
| Administrative expenses paid from the plan | $97,654 |
| Investment advisory & management fees | $87,049 |
| Benefits paid out | $2,184,293 |
| Net assets, start / end of year | $27.8M / $33.9M |
| Active participants, start / end of year | 670 / 696 |
| Participants with account balances | 557 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Greerwalker LLP |
Largest service providers (Schedule C)
| Mai Capital Management, LLC | $68,578 reported compensation |
| Adp, Inc. | $20,175 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250916051251NAL0002219952001, received 2025-09-16, EIN 56-1973119, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.