Menasha Corporation 401(k) Review & Grade
Menasha Corporation 401(k) Retirement Savings Plan
Neenah, WIManufacturing5,396 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,433Employer $ per active participant
$6,167Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$692.6MNet plan assets, end of year
$103,559Average balance per account
Score breakdown
- Employer generosity24.5 / 5049th percentile for employer $ per participant
- Low cost18.0 / 2572th percentile for low admin cost vs. same-size plans
- Employee saving7.7 / 1551th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 49th |
| Lower admin cost | 72th |
| Employee saving | 51th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $200 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Menasha put in about $3,433 per active participant, below the typical peer ($3,452). 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.
- 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 | $18,523,953 |
| Participant (employee) contributions | $33,281,060 |
| Other contributions (incl. rollovers in) | $6,202,288 |
| Administrative expenses paid from the plan | $414,422 |
| Contract administrator fees | $73,096 |
| Investment advisory & management fees | $76,228 |
| Other admin expenses | $935 |
| Benefits paid out | $77,300,097 |
| Net assets, start / end of year | $638.9M / $692.6M |
| Active participants, start / end of year | 5,037 / 5,756 |
| Participants with account balances | 6,688 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $264,163 reported compensation |
| Capfinancial Partners LLC | $76,228 reported compensation |
| The Prudential Insurance Company of | $68,528 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013145725NAL0002255632001, received 2025-10-13, EIN 39-1367484, plan #024, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.