Multimatic of America Holdings Inc. 401(k) Review & Grade
Multimatic 401(k) Plan
Professional, Scientific & Technical Services1,059 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,771Employer $ per active participant
$3,391Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$48.5MNet plan assets, end of year
$47,711Average balance per account
Score breakdown
- Employer generosity15.4 / 5031th percentile for employer $ per participant
- Low cost19.8 / 2579th percentile for low admin cost vs. same-size plans
- Employee saving2.6 / 1517th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 31th |
| Lower admin cost | 79th |
| Employee saving | 17th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($37,739 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $6,769 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Multimatic of America Holdings put in about $1,771 per active participant, below the typical peer ($3,082). 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,875,132 |
| Participant (employee) contributions | $3,591,236 |
| Other contributions (incl. rollovers in) | $272,708 |
| Administrative expenses paid from the plan | $36,562 |
| Benefits paid out | $4,962,423 |
| Net assets, start / end of year | $43.0M / $48.5M |
| Active participants, start / end of year | 999 / 1,119 |
| Participants with account balances | 1,017 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Doerenmayhewassurance |
Largest service providers (Schedule C)
| Morgan Stanley Smith Barney | $110,675 reported compensation |
| Fidelity Investments Institutional | $36,562 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015160424NAL0010536354001, received 2025-10-15, EIN 32-0445660, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.