Mayco International LLC 401(k) Review & Grade
Global Affiliates Salaried 401(k) Plan
Sterling Heights, MIManufacturing3,554 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$489Employer $ per active participant
$2,093Employee $ saved per active participant
0.66%Direct admin cost, % of plan assets
$77.2MNet plan assets, end of year
$21,664Average balance per account
Score breakdown
- Employer generosity2.5 / 505th percentile for employer $ per participant
- Low cost2.1 / 258th percentile for low admin cost vs. same-size plans
- Employee saving1.2 / 158th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score13 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 5th |
| Lower admin cost | 8th |
| Employee saving | 8th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $101,032 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mayco International put in about $489 per active participant, below the typical peer ($3,452). 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 (0.66% of assets) are well above similar-size plans (0.12%). 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 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 | $1,737,083 |
| Participant (employee) contributions | $7,436,138 |
| Other contributions (incl. rollovers in) | $978,610 |
| Administrative expenses paid from the plan | $480,310 |
| Investment advisory & management fees | $107,304 |
| Other admin expenses | $114,996 |
| Benefits paid out | $9,603,805 |
| Net assets, start / end of year | $67.5M / $77.2M |
| Active participants, start / end of year | 2,700 / 4,407 |
| Participants with account balances | 3,563 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mansperger Patterson & Mcmullin PC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $222,010 reported compensation |
| Fiduciary Outsourcing LLC | $114,996 reported compensation |
| Northwestern Mutual Wealth Mgmt Co | $98,442 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007114422NAL0002433091001, received 2025-10-07, EIN 20-5663915, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.