Maclean-Fogg Company 401(k) Review & Grade
Maclean-Fogg Company Profit Sharing and Savings Plan
Mundelein, ILManufacturing1,719 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,580Employer $ per active participant
$6,689Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$217.3MNet plan assets, end of year
$88,196Average balance per account
Score breakdown
- Employer generosity27.7 / 5055th percentile for employer $ per participant
- Low cost14.5 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving10.6 / 1570th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 58th |
| Employee saving | 70th |
| 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
- Maclean-Fogg put in about $2,580 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 | $4,435,597 |
| Participant (employee) contributions | $11,498,573 |
| Other contributions (incl. rollovers in) | $4,048,940 |
| Administrative expenses paid from the plan | $370,269 |
| Contract administrator fees | $6,331 |
| Investment advisory & management fees | $83,743 |
| Other admin expenses | $4,586 |
| Benefits paid out | $25,972,872 |
| Net assets, start / end of year | $197.7M / $217.3M |
| Active participants, start / end of year | 1,628 / 1,810 |
| Participants with account balances | 2,464 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sikich CPA LLC |
Largest service providers (Schedule C)
| Oneamerica Retirement Services LLC | $253,509 reported compensation |
| Fiducient Advisors | $72,059 reported compensation |
| Sikich LLP | $22,100 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250814095011NAL0008985299001, received 2025-08-14, EIN 36-2431745, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.