Megalodon Midco, LLC 401(k) Review & Grade
Non-Union Employees 401(k) Plan
Auburn Hills, MIManufacturing813 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,732Employer $ per active participant
$5,324Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$145.6MNet plan assets, end of year
$84,771Average balance per account
Score breakdown
- Employer generosity29.3 / 5059th percentile for employer $ per participant
- Low cost14.4 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving8.4 / 1556th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 59th |
| Lower admin cost | 58th |
| Employee saving | 56th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Auditor concern: the independent auditor gave a qualified or adverse opinion.
Corrective distributions: the plan refunded $9,136 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Megalodon Midco put in about $2,732 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.
- 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.
- 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 | $2,220,932 |
| Participant (employee) contributions | $4,328,514 |
| Other contributions (incl. rollovers in) | $2,013,951 |
| Administrative expenses paid from the plan | $262,043 |
| Contract administrator fees | $262,043 |
| Benefits paid out | $26,483,921 |
| Net assets, start / end of year | $145.3M / $145.6M |
| Active participants, start / end of year | 839 / 787 |
| Participants with account balances | 1,717 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $262,042 reported compensation |
| Osaic Fa, Inc. | $51,917 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250910110445NAL0013127955001, received 2025-09-10, EIN 87-3643212, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.