MR. Bult's, Inc. 401(k) Review & Grade
MR. Bult's Inc. 401(k) Plan
Burnham, ILTransportation & Warehousing1,500 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$661Employer $ per active participant
$1,737Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$23.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity17.1 / 5034th percentile for employer $ per participant
- Low cost8.4 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving4.1 / 1527th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 34th |
| Employee saving | 27th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $61,432 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- MR. Bult's put in about $661 per active participant, below the typical peer ($1,070). 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 (0.36% 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.
- 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 | $991,606 |
| Participant (employee) contributions | $2,604,922 |
| Other contributions (incl. rollovers in) | $522,660 |
| Administrative expenses paid from the plan | $78,842 |
| Contract administrator fees | $2,515 |
| Benefits paid out | $3,340,604 |
| Net assets, start / end of year | $20.2M / $23.1M |
| Active participants, start / end of year | 1,251 / 1,749 |
| Participants with account balances | 502 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mcmahon & Associates, CPA PC |
Largest service providers (Schedule C)
| Newport Group, Inc. | $56,423 reported compensation |
| Newport Trust Company | $13,419 reported compensation |
| Mcmahon & Associates, CPA PC | $9,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014163330NAL0003415489001, received 2025-10-14, EIN 36-3408042, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.