Mastec, Inc. 401(k) Review & Grade
The Mastec, Inc. 401(k) Retirement Plan
Coral Gables, FLConstruction23,936 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,481Employer $ per active participant
$2,891Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$735.7MNet plan assets, end of year
$53,122Average balance per account
Score breakdown
- Employer generosity20.6 / 5041th percentile for employer $ per participant
- Low cost6.0 / 2524th percentile for low admin cost vs. same-size plans
- Employee saving5.3 / 1535th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score22 / 100 · Grade F
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 24th |
| Employee saving | 35th |
| Peers that auto-enroll | 50% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($173,839 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $28,335 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mastec put in about $1,481 per active participant, below the typical peer ($2,229). 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.
- Direct plan expenses (0.17% of assets) are well above similar-size plans (0.09%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $35,439,087 |
| Participant (employee) contributions | $69,191,412 |
| Other contributions (incl. rollovers in) | $5,908,080 |
| Administrative expenses paid from the plan | $1,116,921 |
| Other admin expenses | $79,728 |
| Benefits paid out | $88,143,025 |
| Net assets, start / end of year | $591.6M / $735.7M |
| Active participants, start / end of year | 23,928 / 23,943 |
| Participants with account balances | 13,850 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA, P.C |
| Employer stock held by plan | $154,448,893 |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $1,037,193 reported compensation |
| Bdo | $60,437 reported compensation |
| Eceb Law | $5,270 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250627082839NAL0022949042001, received 2025-06-27, EIN 65-0829355, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.