Morton Buildings, Inc. 401(k) Review & Grade
Morton Buildings, Inc. 401(k) and Esop
Morton, ILConstruction1,606 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,571Employer $ per active participant
$6,117Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$211.2MNet plan assets, end of year
$107,214Average balance per account
Score breakdown
- Employer generosity23.4 / 5047th percentile for employer $ per participant
- Low cost20.5 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 82th |
| Employee saving | 76th |
| 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
- Morton Buildings put in about $1,571 per active participant, below the typical peer ($1,672). 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.
- 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 | $2,522,130 |
| Participant (employee) contributions | $9,820,851 |
| Other contributions (incl. rollovers in) | $618,710 |
| Administrative expenses paid from the plan | $143,278 |
| Investment advisory & management fees | $143,278 |
| Benefits paid out | $21,899,160 |
| Net assets, start / end of year | $203.3M / $211.2M |
| Active participants, start / end of year | 1,658 / 1,553 |
| Participants with account balances | 1,970 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
| Employer stock held by plan | $26,165,778 |
Largest service providers (Schedule C)
| Vanguard Group Inc. | $151,028 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014144304NAL0001562979001, received 2025-10-14, EIN 37-0347310, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.