Morton Investment Company LLC 401(k) Review & Grade
Morton Salt 401(k) Savings Plan
Overland Park, KSMining, Oil & Gas1,842 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,354Employer $ per active participant
$7,421Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$356.5MNet plan assets, end of year
$132,516Average balance per account
Score breakdown
- Employer generosity24.6 / 5049th percentile for employer $ per participant
- Low cost20.5 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving8.1 / 1554th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 49th |
| Lower admin cost | 82th |
| Employee saving | 54th |
| Peers that auto-enroll | 60% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($11,656 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Morton Investment Company put in about $4,354 per active participant, below the typical peer ($4,357). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $8,019,742 |
| Participant (employee) contributions | $13,669,981 |
| Other contributions (incl. rollovers in) | $3,629,122 |
| Administrative expenses paid from the plan | $239,576 |
| Other admin expenses | $62,668 |
| Benefits paid out | $45,452,467 |
| Net assets, start / end of year | $336.5M / $356.5M |
| Active participants, start / end of year | 1,839 / 1,845 |
| Participants with account balances | 2,690 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Whitley Penn LLP |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $176,908 reported compensation |
| Mma Securities | $60,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915081319NAL0000918945001, received 2025-09-15, EIN 90-0475845, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.