Muncie Power Products Inc. 401(k) Review & Grade
Muncie Power Products Employees Retirement Plan
Muncie, INManufacturing517 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,965Employer $ per active participant
$4,028Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$39.3MNet plan assets, end of year
$64,536Average balance per account
Score breakdown
- Employer generosity21.2 / 5042th percentile for employer $ per participant
- Low cost11.3 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving5.6 / 1537th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 42th |
| Lower admin cost | 45th |
| Employee saving | 37th |
| Peers that auto-enroll | 59% |
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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
- Muncie Power Products put in about $1,965 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.
- 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 | $1,015,867 |
| Participant (employee) contributions | $2,082,476 |
| Other contributions (incl. rollovers in) | $92,098 |
| Administrative expenses paid from the plan | $97,163 |
| Investment advisory & management fees | $14,000 |
| Benefits paid out | $2,797,603 |
| Net assets, start / end of year | $34.2M / $39.3M |
| Active participants, start / end of year | 511 / 523 |
| Participants with account balances | 609 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Whitinger & Company LLC |
Largest service providers (Schedule C)
| Oneamerica Retirement Services | $83,163 reported compensation |
| Gallagher Fiduciary Advisors, LLC | $14,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014104327NAL0002663121001, received 2025-10-14, EIN 35-1046108, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.