M.B. Haynes Corporation 401(k) Review & Grade
M.B. Haynes 401(k) Plan
Asheville, NCConstruction579 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$483Employer $ per active participant
$5,062Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$37.7MNet plan assets, end of year
$56,332Average balance per account
Score breakdown
- Employer generosity8.0 / 5016th percentile for employer $ per participant
- Low cost9.5 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving9.7 / 1565th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 38th |
| Employee saving | 65th |
| Peers that auto-enroll | 44% |
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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
- M.B. Haynes put in about $483 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.
- 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 | $279,428 |
| Participant (employee) contributions | $2,931,023 |
| Other contributions (incl. rollovers in) | $553,799 |
| Administrative expenses paid from the plan | $115,475 |
| Contract administrator fees | $115,475 |
| Benefits paid out | $2,575,109 |
| Net assets, start / end of year | $34.2M / $37.7M |
| Active participants, start / end of year | 572 / 586 |
| Participants with account balances | 669 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $115,475 reported compensation |
| Colton Groome Financial Advisors, L | $48,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260108141619NAL0012106240001, received 2026-01-08, EIN 56-0506077, plan #001, plan year 2024-04-01 to 2025-03-31. Verify at efast.dol.gov.