Mccarter & English, LLP 401(k) Review & Grade
Mccarter and English Retirement and Savings Plan
Newark, NJProfessional, Scientific & Technical Services772 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$9,432Employer $ per active participant
$14,101Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$487.8MNet plan assets, end of year
$440,296Average balance per account
Score breakdown
- Employer generosity44.8 / 5090th percentile for employer $ per participant
- Low cost21.1 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving12.8 / 1585th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score69 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 90th |
| Lower admin cost | 84th |
| Employee saving | 85th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $1,426 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mccarter & English, LLP put in about $9,432 per active participant, more than the typical peer ($3,082). 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 | $7,281,177 |
| Participant (employee) contributions | $10,885,780 |
| Other contributions (incl. rollovers in) | $6,608,656 |
| Administrative expenses paid from the plan | $272,578 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $37,688 |
| Other admin expenses | $50,304 |
| Benefits paid out | $38,169,145 |
| Net assets, start / end of year | $422.0M / $487.8M |
| Active participants, start / end of year | 743 / 801 |
| Participants with account balances | 1,108 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eisneramper LLP |
Largest service providers (Schedule C)
| Captrust | $50,304 reported compensation |
| Strategic Advisors, Inc. | $37,688 reported compensation |
| Eisneramper LLP | $25,467 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013101546NAL0001090145001, received 2025-10-13, EIN 22-1534652, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.