Mittera Group, Inc. 401(k) Review & Grade
Mittera Group, Inc. 401(k) Retirement Plan
Des Moines, IAManufacturing1,658 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$608Employer $ per active participant
$3,691Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$85.1MNet plan assets, end of year
$68,812Average balance per account
Score breakdown
- Employer generosity4.4 / 509th percentile for employer $ per participant
- Low cost11.2 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving4.9 / 1532th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 9th |
| Lower admin cost | 45th |
| Employee saving | 32th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $41,121 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mittera Group put in about $608 per active participant, below the typical peer ($2,320). 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.
- 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 | $1,008,697 |
| Participant (employee) contributions | $6,121,032 |
| Other contributions (incl. rollovers in) | $4,139,376 |
| Administrative expenses paid from the plan | $217,391 |
| Contract administrator fees | $137 |
| Investment advisory & management fees | $100,957 |
| Other admin expenses | $452 |
| Benefits paid out | $13,027,598 |
| Net assets, start / end of year | $77.3M / $85.1M |
| Active participants, start / end of year | 1,736 / 1,581 |
| Participants with account balances | 1,236 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailly, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $116,744 reported compensation |
| Wintrust Investments LLC | $43,665 reported compensation |
| Empower Advisory Group, LLC | $32,164 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250820103107NAL0003141985001, received 2025-08-20, EIN 42-1028248, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.