Mei Rigging & Crating, LLC 401(k) Review & Grade
Mei Rigging and Crating LLC 401(k) Profit Sharing Plan and Trust
Albany, ORConstruction1,189 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,938Employer $ per active participant
$4,245Employee $ saved per active participant
0.45%Direct admin cost, % of plan assets
$37.9MNet plan assets, end of year
$28,749Average balance per account
Score breakdown
- Employer generosity28.8 / 5058th percentile for employer $ per participant
- Low cost6.6 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving8.1 / 1554th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 58th |
| Lower admin cost | 26th |
| Employee saving | 54th |
| Peers that auto-enroll | 44% |
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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
- Mei Rigging & Crating put in about $1,938 per active participant, more than the typical peer ($1,672). 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 (0.45% of assets) are well above similar-size plans (0.23%). 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 | $2,304,652 |
| Participant (employee) contributions | $5,047,458 |
| Other contributions (incl. rollovers in) | $6,337,012 |
| Administrative expenses paid from the plan | $138,666 |
| Investment advisory & management fees | $3,950 |
| Other admin expenses | $121,595 |
| Benefits paid out | $2,641,265 |
| Net assets, start / end of year | $23.7M / $37.9M |
| Active participants, start / end of year | 1,124 / 1,254 |
| Participants with account balances | 1,317 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Delap LLP |
Largest service providers (Schedule C)
| Mercer (US) Inc Mercer Investments | $121,595 reported compensation |
| Empower Annuity Insurance Company O | $13,121 reported compensation |
| Empower Advisory Group, LLC | $3,950 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015160804NAL0002605091001, received 2025-10-15, EIN 46-1164581, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.