Mustang Machinery Company, LLC. 401(k) Review & Grade
Mustang Employees' 401(k) Plan
Houston, TXRetail Trade1,385 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,987Employer $ per active participant
$5,436Employee $ saved per active participant
0.34%Direct admin cost, % of plan assets
$91.1MNet plan assets, end of year
$56,088Average balance per account
Score breakdown
- Employer generosity42.4 / 5085th percentile for employer $ per participant
- Low cost9.1 / 2536th percentile for low admin cost vs. same-size plans
- Employee saving13.0 / 1587th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 36th |
| Employee saving | 87th |
| 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 ($67,501 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $269 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mustang Machinery Company put in about $1,987 per active participant, more than the typical peer ($743). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $2,752,658 |
| Participant (employee) contributions | $7,528,339 |
| Other contributions (incl. rollovers in) | $1,006,105 |
| Administrative expenses paid from the plan | $280,684 |
| Investment advisory & management fees | $138,640 |
| Benefits paid out | $6,072,848 |
| Net assets, start / end of year | $74.4M / $91.1M |
| Active participants, start / end of year | 1,345 / 1,425 |
| Participants with account balances | 1,625 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wrinkle and Gardner |
Largest service providers (Schedule C)
| Salient Private Client LLC | $138,640 reported compensation |
| Fidelity Investments Institutional | $120,544 reported compensation |
| Wrinkle,gardner & Company, P.C. | $21,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015084337NAL0005562416001, received 2025-10-15, EIN 20-0421611, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.