Maclean Power, LLC 401(k) Review & Grade
Maclean Power 401(k) Plan
Fort Mill, SCManufacturing1,426 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,112Employer $ per active participant
$5,317Employee $ saved per active participant
0.50%Direct admin cost, % of plan assets
$64.5MNet plan assets, end of year
$42,317Average balance per account
Score breakdown
- Employer generosity22.9 / 5046th percentile for employer $ per participant
- Low cost5.9 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving8.4 / 1556th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score47 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 23th |
| Employee saving | 56th |
| 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
- Maclean Power put in about $2,112 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.
- Direct plan expenses (0.50% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $3,011,220 |
| Participant (employee) contributions | $7,578,877 |
| Other contributions (incl. rollovers in) | $826,139 |
| Administrative expenses paid from the plan | $292,513 |
| Investment advisory & management fees | $82,939 |
| Benefits paid out | $9,579,380 |
| Net assets, start / end of year | $53.3M / $64.5M |
| Active participants, start / end of year | 1,480 / 1,371 |
| Participants with account balances | 1,524 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sikich CPA LLC |
Largest service providers (Schedule C)
| Oneamerica Retirement Services LLC | $209,575 reported compensation |
| Kestra Investment Services, LLC | $82,939 reported compensation |
| Matrix Trust Company | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915163339NAL0001606112001, received 2025-09-15, EIN 36-4258740, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.