Meissner Filtration Products, Inc. 401(k) Review & Grade
Meissner Filtration Products, Inc.401(k) Profit Sharing Plan
Camarillo, CAManufacturing550 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,832Employer $ per active participant
$4,657Employee $ saved per active participant
0.95%Direct admin cost, % of plan assets
$31.2MNet plan assets, end of year
$43,198Average balance per account
Score breakdown
- Employer generosity30.2 / 5060th percentile for employer $ per participant
- Low cost1.8 / 257th percentile for low admin cost vs. same-size plans
- Employee saving6.9 / 1546th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 60th |
| Lower admin cost | 7th |
| Employee saving | 46th |
| 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
- Meissner Filtration Products put in about $2,832 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.
- Direct plan expenses (0.95% 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.
- 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 | $1,557,640 |
| Participant (employee) contributions | $2,561,484 |
| Other contributions (incl. rollovers in) | $59,641 |
| Administrative expenses paid from the plan | $263,166 |
| Benefits paid out | $596,017 |
| Net assets, start / end of year | $24.3M / $31.2M |
| Active participants, start / end of year | 565 / 535 |
| Participants with account balances | 723 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Holthouse Carlin & Van Tright LLP |
Largest service providers (Schedule C)
| Keefer Pension Consulting, Inc. | $159,991 reported compensation |
| Transamerica Retirement Solutions,l | $70,294 reported compensation |
| Hicks Pension Services-San Luis Obi | $30,938 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015202041NAL0005557729001, received 2025-10-15, EIN 77-0213143, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.