M. A. Mortenson Company 401(k) Review & Grade
M. A. Mortenson Company Profit Sharing and Retirement Savings Plan and Trust
Minneapolis, MNConstruction3,203 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$11,123Employer $ per active participant
$12,636Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$826.6MNet plan assets, end of year
$193,077Average balance per account
Score breakdown
- Employer generosity48.7 / 5097th percentile for employer $ per participant
- Low cost20.0 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1597th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score90 / 100 · Grade A
This plan vs. peers
Peers: Construction plans with 2,500–9,999 active participants (76 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 97th |
| Lower admin cost | 80th |
| Employee saving | 97th |
| Peers that auto-enroll | 57% |
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Red flags from the filing
Corrective distributions: the plan refunded $11,191 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- M. A. Mortenson put in about $11,123 per active participant, more than the typical peer ($1,965). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $35,625,533 |
| Participant (employee) contributions | $40,473,957 |
| Other contributions (incl. rollovers in) | $7,188,107 |
| Administrative expenses paid from the plan | $353,140 |
| Contract administrator fees | $4,200 |
| Other admin expenses | $529,251 |
| Benefits paid out | $50,847,524 |
| Net assets, start / end of year | $693.8M / $826.6M |
| Active participants, start / end of year | 2,977 / 3,429 |
| Participants with account balances | 4,281 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| Mercer | $53,887 reported compensation |
| Grant Thornton LLP | $29,500 reported compensation |
| Fidelity Investments Institutional | −$205,611 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007165728NAL0008333088001, received 2025-10-07, EIN 41-0740923, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.