Taylor Corporation 401(k) Review & Grade
Taylor Corporation 401(k) Plan
North Mankato, MNManufacturing8,292 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,431Employer $ per active participant
$5,629Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$910.3MNet plan assets, end of year
$95,152Average balance per account
Score breakdown
- Employer generosity8.4 / 5017th percentile for employer $ per participant
- Low cost19.1 / 2576th percentile for low admin cost vs. same-size plans
- Employee saving6.7 / 1545th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 17th |
| Lower admin cost | 76th |
| Employee saving | 45th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $8,769 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Taylor put in about $1,431 per active participant, below the typical peer ($3,452). 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 | $11,869,364 |
| Participant (employee) contributions | $46,676,434 |
| Other contributions (incl. rollovers in) | $4,587,978 |
| Administrative expenses paid from the plan | $480,274 |
| Contract administrator fees | $2,100 |
| Investment advisory & management fees | $103,750 |
| Benefits paid out | $111,970,644 |
| Net assets, start / end of year | $845.6M / $910.3M |
| Active participants, start / end of year | 8,204 / 8,381 |
| Participants with account balances | 9,567 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailly LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $346,024 reported compensation |
| Captrust Financial Advisors | $103,750 reported compensation |
| Eide Bailly | $30,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002150529NAL0000975136001, received 2025-10-02, EIN 41-0852411, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.