Max-Tech, Inc. 401(k) Review & Grade
Max-Tech Inc. 401(k) Profit Sharing Plan
Hamel, MNWholesale Trade696 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,312Employer $ per active participant
$2,066Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$15.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity17.4 / 5035th percentile for employer $ per participant
- Low cost9.5 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving1.9 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 35th |
| Lower admin cost | 38th |
| Employee saving | 13th |
| Peers that auto-enroll | 53% |
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
Late deposits: the filing says some employee contributions were not sent to the plan on time ($115,837 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Max-Tech put in about $1,312 per active participant, below the typical peer ($1,792). 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.
- 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 | $913,107 |
| Participant (employee) contributions | $1,437,911 |
| Other contributions (incl. rollovers in) | $503,402 |
| Administrative expenses paid from the plan | $43,681 |
| Investment advisory & management fees | $28,692 |
| Benefits paid out | $1,259,735 |
| Net assets, start / end of year | $11.9M / $15.2M |
| Active participants, start / end of year | 669 / 723 |
| Participants with account balances | 235 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Redpath and Company LLC |
Largest service providers (Schedule C)
| Bremer Bank NA | $28,692 reported compensation |
| Fidelity Investments Institutional | $14,989 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009082530NAL0003740915001, received 2025-10-09, EIN 20-3705624, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.