Michels Corporation 401(k) Review & Grade
Michels Corporation 401(k) Savings Plan
Brownsville, WIConstruction2,477 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,027Employer $ per active participant
$7,928Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$276.0MNet plan assets, end of year
$100,152Average balance per account
Score breakdown
- Employer generosity37.6 / 5075th percentile for employer $ per participant
- Low cost18.8 / 2575th percentile for low admin cost vs. same-size plans
- Employee saving12.9 / 1586th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score79 / 100 · Grade A
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 75th |
| Lower admin cost | 75th |
| Employee saving | 86th |
| Peers that auto-enroll | 44% |
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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
- Michels put in about $3,027 per active participant, more than the typical peer ($1,672). 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 | $7,498,987 |
| Participant (employee) contributions | $19,637,295 |
| Other contributions (incl. rollovers in) | $3,939,041 |
| Administrative expenses paid from the plan | $244,957 |
| Investment advisory & management fees | $122,515 |
| Benefits paid out | $24,378,784 |
| Net assets, start / end of year | $236.9M / $276.0M |
| Active participants, start / end of year | 2,356 / 2,598 |
| Participants with account balances | 2,756 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| Francis Investment Counsel LLC | $122,515 reported compensation |
| T Rowe Price RPS Inc | $122,440 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015084820NAL0005715936001, received 2025-10-15, EIN 39-0970311, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.