Marubeni-Itochu Steel America 401(k) Review & Grade
Misa Consolidated 401(k) Plan
New York, NYWholesale Trade2,498 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,301Employer $ per active participant
$6,316Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$278.3MNet plan assets, end of year
$94,500Average balance per account
Score breakdown
- Employer generosity39.0 / 5078th percentile for employer $ per participant
- Low cost16.1 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving10.7 / 1572th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score76 / 100 · Grade A
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 65th |
| Employee saving | 72th |
| Peers that auto-enroll | 53% |
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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
- Marubeni-Itochu Steel America put in about $3,301 per active participant, more than the typical peer ($1,792). 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 | $8,246,572 |
| Participant (employee) contributions | $15,778,360 |
| Other contributions (incl. rollovers in) | $1,757,301 |
| Administrative expenses paid from the plan | $374,455 |
| Investment advisory & management fees | $91,125 |
| Benefits paid out | $25,595,766 |
| Net assets, start / end of year | $246.0M / $278.3M |
| Active participants, start / end of year | 2,568 / 2,428 |
| Participants with account balances | 2,945 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $348,404 reported compensation |
| Cohnreznick LLP | $25,000 reported compensation |
| Charles Schwab Investment Mgmt Inc. | $337 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015065908NAL0002029635001, received 2025-10-15, EIN 13-4185896, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.