Major Tool & Machine, Inc. 401(k) Review & Grade
Precinmac 401(k) Plan
Indianapolis, INManufacturing1,490 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,980Employer $ per active participant
$6,000Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$151.9MNet plan assets, end of year
$78,830Average balance per account
Score breakdown
- Employer generosity31.4 / 5063th percentile for employer $ per participant
- Low cost16.6 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1563th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 63th |
| Lower admin cost | 66th |
| Employee saving | 63th |
| Peers that auto-enroll | 59% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Major Tool & Machine put in about $2,980 per active participant, more than the typical peer ($2,320). 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.
- 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 | $4,438,401 |
| Participant (employee) contributions | $8,936,460 |
| Other contributions (incl. rollovers in) | $1,627,391 |
| Administrative expenses paid from the plan | $190,856 |
| Investment advisory & management fees | $108,572 |
| Other admin expenses | $250 |
| Benefits paid out | $16,763,515 |
| Net assets, start / end of year | $133.2M / $151.9M |
| Active participants, start / end of year | 1,443 / 1,536 |
| Participants with account balances | 1,927 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Katz Sapper & Miller, LLP |
Largest service providers (Schedule C)
| Afg Fiduciary Services LP | $108,572 reported compensation |
| Fidelity Investments Institutional | $82,034 reported compensation |
| Principal Life Insurance Company | $250 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929092438NAL0004935107001, received 2025-09-29, EIN 35-0848038, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.