Marmon Engineered Components Company 401(k) Review & Grade
Marmon Consolidated Retirement Plan
Chicago, ILManufacturing4,168 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,650Employer $ per active participant
$1,334Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$149.1MNet plan assets, end of year
$27,512Average balance per account
Score breakdown
- Employer generosity10.6 / 5021th percentile for employer $ per participant
- Low cost5.2 / 2521th percentile for low admin cost vs. same-size plans
- Employee saving0.5 / 153th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score6 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 21th |
| Lower admin cost | 21th |
| Employee saving | 3th |
| Peers that auto-enroll | 70% |
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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 ($79,805 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $148 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Marmon Engineered Components put in about $1,650 per active participant, below the typical peer ($3,452). 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 (0.32% of assets) are well above similar-size plans (0.12%). 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 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 | $6,877,526 |
| Participant (employee) contributions | $5,560,986 |
| Other contributions (incl. rollovers in) | $298,803 |
| Administrative expenses paid from the plan | $461,638 |
| Investment advisory & management fees | $58,493 |
| Benefits paid out | $21,068,460 |
| Net assets, start / end of year | $136.2M / $149.1M |
| Active participants, start / end of year | 4,022 / 4,314 |
| Participants with account balances | 5,418 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $370,823 reported compensation |
| Plante & Moran PLLC | $46,450 reported compensation |
| Thompson Coburn LLP | $32,322 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014112504NAL0005680658001, received 2025-10-14, EIN 32-0023596, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.