Metalcraft of Mayville, Inc. 401(k) Review & Grade
Metalcraft of Mayville, Inc. 401(k) Profit Sharing Plan
Mayville, WIManufacturing760 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,059Employer $ per active participant
$5,002Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$73.5MNet plan assets, end of year
$64,825Average balance per account
Score breakdown
- Employer generosity9.4 / 5019th percentile for employer $ per participant
- Low cost9.9 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 40th |
| Employee saving | 52th |
| 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
- Metalcraft of Mayville put in about $1,059 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 | $804,407 |
| Participant (employee) contributions | $3,799,076 |
| Other contributions (incl. rollovers in) | $481,944 |
| Administrative expenses paid from the plan | $222,018 |
| Investment advisory & management fees | $148,966 |
| Benefits paid out | $9,345,529 |
| Net assets, start / end of year | $70.8M / $73.5M |
| Active participants, start / end of year | 807 / 712 |
| Participants with account balances | 1,134 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wipfli |
Largest service providers (Schedule C)
| Spectrum Investment Advisors Inc | $148,966 reported compensation |
| Empower Annuity Insurance Company O | $73,052 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260715202634NAL0004553264001, received 2026-07-15, EIN 39-1140320, plan #004, plan year 2024-10-01 to 2025-09-30. Verify at efast.dol.gov.