Terra Millennium Corporation 401(k) Review & Grade
Terra Millennium Corporation 401(k) Plan
Salt Lake City, UTConstruction1,884 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,511Employer $ per active participant
$2,103Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$77.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity22.6 / 5045th percentile for employer $ per participant
- Low cost12.5 / 2550th percentile for low admin cost vs. same-size plans
- Employee saving3.5 / 1523th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 50th |
| Employee saving | 23th |
| Peers that auto-enroll | 44% |
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Red flags from the filing
Corrective distributions: the plan refunded $903 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Terra Millennium put in about $1,511 per active participant, below the typical peer ($1,672). 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.
- 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 | $2,846,382 |
| Participant (employee) contributions | $3,962,675 |
| Other contributions (incl. rollovers in) | $414,102 |
| Administrative expenses paid from the plan | $171,644 |
| Investment advisory & management fees | $78,690 |
| Benefits paid out | $11,650,876 |
| Net assets, start / end of year | $72.2M / $77.8M |
| Active participants, start / end of year | 1,791 / 1,977 |
| Participants with account balances | 608 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Tanner LLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $92,954 reported compensation |
| Global Retirement Partners LLC | $72,355 reported compensation |
| Empower Advisory Group, LLC | $6,335 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015134044NAL0002505379001, received 2025-10-15, EIN 94-2994452, plan #015, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.