Multiquip Inc. 401(k) Review & Grade
Multiquip Inc. Profit Sharing and Retirement Savings Plan
Cypress, CAWholesale Trade593 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,071Employer $ per active participant
$6,744Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$66.6MNet plan assets, end of year
$92,011Average balance per account
Score breakdown
- Employer generosity28.7 / 5057th percentile for employer $ per participant
- Low cost9.2 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving11.5 / 1576th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 37th |
| Employee saving | 76th |
| 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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Multiquip put in about $2,071 per active participant, more than the typical peer ($1,792). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,227,848 |
| Participant (employee) contributions | $3,999,321 |
| Other contributions (incl. rollovers in) | $165,462 |
| Administrative expenses paid from the plan | $207,649 |
| Investment advisory & management fees | $118,506 |
| Benefits paid out | $5,332,358 |
| Net assets, start / end of year | $57.4M / $66.6M |
| Active participants, start / end of year | 588 / 598 |
| Participants with account balances | 724 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wright Ford Young & Co |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $74,393 reported compensation |
| Provenance Wealth Advisors LLC | $67,668 reported compensation |
| M Holdings Securities Inc | $50,838 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014141205NAL0001520691001, received 2025-10-14, EIN 95-2874203, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.