Mcgrath Rentcorp 401(k) Review & Grade
Mcgrath Rentcorp Employee Stock Ownership and 401(k) Plan
Livermore, CAReal Estate & Rental1,240 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,596Employer $ per active participant
$5,531Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$135.0MNet plan assets, end of year
$133,551Average balance per account
Score breakdown
- Employer generosity39.0 / 5078th percentile for employer $ per participant
- Low cost20.2 / 2581th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1573th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 81th |
| Employee saving | 73th |
| Peers that auto-enroll | 47% |
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
Corrective distributions: the plan refunded $2,771 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mcgrath Rentcorp put in about $2,596 per active participant, more than the typical peer ($1,279). 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.
- 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 | $3,217,237 |
| Participant (employee) contributions | $6,856,286 |
| Other contributions (incl. rollovers in) | $1,480,887 |
| Administrative expenses paid from the plan | $94,356 |
| Investment advisory & management fees | $9,865 |
| Other admin expenses | −$27,600 |
| Benefits paid out | $11,584,710 |
| Net assets, start / end of year | $123.7M / $135.0M |
| Active participants, start / end of year | 1,242 / 1,237 |
| Participants with account balances | 1,011 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Grant Thornton LLP |
| Employer stock held by plan | $26,640,855 |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $115,375 reported compensation |
| Morningstar Inc | $5,888 reported compensation |
| Charles Schwab & Co., Inc. | $510 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250620154525NAL0004036145001, received 2025-06-20, EIN 94-2579843, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.