Minerals Technologies Inc. 401(k) Review & Grade
Minerals Technologies Inc. Savings and Investment Plan
New York, NYManufacturing1,668 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,183Employer $ per active participant
$7,950Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$360.7MNet plan assets, end of year
$156,435Average balance per account
Score breakdown
- Employer generosity38.4 / 5077th percentile for employer $ per participant
- Low cost20.8 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving12.0 / 1580th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score81 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 83th |
| Employee saving | 80th |
| 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
- Minerals Technologies put in about $4,183 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 | $6,977,117 |
| Participant (employee) contributions | $13,261,384 |
| Other contributions (incl. rollovers in) | $1,072,918 |
| Administrative expenses paid from the plan | $226,381 |
| Contract administrator fees | $106,211 |
| Investment advisory & management fees | $82,808 |
| Benefits paid out | $43,299,500 |
| Net assets, start / end of year | $340.3M / $360.7M |
| Active participants, start / end of year | 1,712 / 1,624 |
| Participants with account balances | 2,306 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Withum Smith & Brown, P.C |
| Employer stock held by plan | $43,829,819 |
Largest service providers (Schedule C)
| John Hancock Retirement Plan Svcs. | $128,021 reported compensation |
| Fiduciary Pension Partners, LLC | $35,000 reported compensation |
| Withum | $33,280 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250723142541NAL0001953827001, received 2025-07-23, EIN 25-1190717, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.