Morryde International, Inc. 401(k) Review & Grade
Morryde International, Inc. 401(k) Plan and Trust
Elkhart, INManufacturing666 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$719Employer $ per active participant
$2,608Employee $ saved per active participant
0.45%Direct admin cost, % of plan assets
$24.5MNet plan assets, end of year
$52,156Average balance per account
Score breakdown
- Employer generosity5.3 / 5011th percentile for employer $ per participant
- Low cost6.6 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving2.8 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 11th |
| Lower admin cost | 26th |
| Employee saving | 18th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $61,189 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Morryde International put in about $719 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.
- Direct plan expenses (0.45% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $478,558 |
| Participant (employee) contributions | $1,735,426 |
| Other contributions (incl. rollovers in) | $60,105 |
| Administrative expenses paid from the plan | $101,517 |
| Investment advisory & management fees | $49,443 |
| Benefits paid out | $988,452 |
| Net assets, start / end of year | $20.5M / $24.5M |
| Active participants, start / end of year | 682 / 649 |
| Participants with account balances | 470 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $52,074 reported compensation |
| Guidance Investment Advisors LLC | $49,443 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250916083628NAL0001794561001, received 2025-09-16, EIN 35-1531001, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.