Mcneilus Steel, Inc. 401(k) Review & Grade
Mcneilus Steel, Inc. 401(k) and Profit Sharing Plan
Dodge Center, MNReal Estate & Rental710 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,577Employer $ per active participant
$6,178Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$108.6MNet plan assets, end of year
$132,431Average balance per account
Score breakdown
- Employer generosity45.5 / 5091th percentile for employer $ per participant
- Low cost15.3 / 2561th percentile for low admin cost vs. same-size plans
- Employee saving11.7 / 1578th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score83 / 100 · Grade A
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 61th |
| Employee saving | 78th |
| Peers that auto-enroll | 47% |
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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
- Mcneilus Steel put in about $4,577 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.
- 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 | $3,249,664 |
| Participant (employee) contributions | $4,386,522 |
| Other contributions (incl. rollovers in) | $362,498 |
| Administrative expenses paid from the plan | $163,161 |
| Contract administrator fees | $17,552 |
| Benefits paid out | $6,657,121 |
| Net assets, start / end of year | $93.9M / $108.6M |
| Active participants, start / end of year | 721 / 699 |
| Participants with account balances | 820 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Bell Bank | $163,161 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260217152909NAL0005870433001, received 2026-02-17, EIN 41-1224472, plan #001, plan year 2024-10-01 to 2025-09-30. Verify at efast.dol.gov.