Miller Waste Mills, Inc. 401(k) Review & Grade
Miller Waste Mills, Inc. 401(k) Plan and Trust
Winona, MNManufacturing1,118 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,449Employer $ per active participant
$6,009Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$130.0MNet plan assets, end of year
$100,726Average balance per account
Score breakdown
- Employer generosity26.5 / 5053th percentile for employer $ per participant
- Low cost16.7 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1564th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 53th |
| Lower admin cost | 67th |
| Employee saving | 64th |
| 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
- Miller Waste Mills put in about $2,449 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.
- 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 | $2,736,316 |
| Participant (employee) contributions | $6,714,839 |
| Other contributions (incl. rollovers in) | $2,250,272 |
| Administrative expenses paid from the plan | $160,900 |
| Contract administrator fees | $120,928 |
| Investment advisory & management fees | $39,972 |
| Benefits paid out | $12,035,725 |
| Net assets, start / end of year | $114.8M / $130.0M |
| Active participants, start / end of year | 1,088 / 1,147 |
| Participants with account balances | 1,291 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $120,928 reported compensation |
| Gallagher Fiduciary Advisors, LLC | $40,000 reported compensation |
| Morningstar Investment Management | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014145923NAL0004318608001, received 2025-10-14, EIN 41-0413230, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.