Mcelroy Manufacturing, Inc. 401(k) Review & Grade
Mcelroy Manufacturing, Inc. Savings Investment Plan
Tulsa, OKManufacturing508 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,828Employer $ per active participant
$8,007Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$64.8MNet plan assets, end of year
$106,856Average balance per account
Score breakdown
- Employer generosity30.1 / 5060th percentile for employer $ per participant
- Low cost18.9 / 2575th percentile for low admin cost vs. same-size plans
- Employee saving12.1 / 1580th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 60th |
| Lower admin cost | 75th |
| Employee saving | 80th |
| Peers that auto-enroll | 59% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($25 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Mcelroy Manufacturing put in about $2,828 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 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 | $1,435,175 |
| Participant (employee) contributions | $4,063,378 |
| Other contributions (incl. rollovers in) | $729,021 |
| Administrative expenses paid from the plan | $55,470 |
| Benefits paid out | $2,180,279 |
| Net assets, start / end of year | $52.9M / $64.8M |
| Active participants, start / end of year | 493 / 522 |
| Participants with account balances | 606 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Hogan Taylor LLP |
Largest service providers (Schedule C)
| Bokf, NA | $55,470 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250818152735NAL0000716659001, received 2025-08-18, EIN 73-0722906, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.