Menasha Corporation 401(k) Review & Grade
Menasha Corporation 401(k) Retirement Plan for Union Employees
Neenah, WIManufacturing1,458 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$932Employer $ per active participant
$1,112Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$36.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.6 / 5015th percentile for employer $ per participant
- Low cost16.8 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving0.6 / 154th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 67th |
| Employee saving | 4th |
| 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
- Menasha put in about $932 per active participant, below the typical peer ($2,320). 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 | $1,359,189 |
| Participant (employee) contributions | $1,621,892 |
| Other contributions (incl. rollovers in) | $28,952 |
| Administrative expenses paid from the plan | $45,998 |
| Contract administrator fees | $9,195 |
| Investment advisory & management fees | $4,012 |
| Other admin expenses | $275 |
| Benefits paid out | $5,045,755 |
| Net assets, start / end of year | $34.5M / $36.4M |
| Active participants, start / end of year | 459 / 2,457 |
| Participants with account balances | 673 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $37,098 reported compensation |
| Cliftonlarsonallen LLP | $4,568 reported compensation |
| Capfinancial Partners LLC DBA Captr | $4,012 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013151935NAL0003346578001, received 2025-10-13, EIN 39-1367484, plan #041, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.