Mayo Construction Company, Inc.ESOP
MAYO CONSTRUCTION COMPANY, INC. EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · CAVALIER, ND · plan year 2023
Mayo Construction Company, Inc.'s 2023 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $41,262,844 across 126 participant accounts, with employer contributions averaging $5,529 per active participant. See methodology for what Form 5500 does and doesn't capture.
The plan sits in the $10M–$50M size bracket, benchmarked here against 26,779 comparable plans and shown alongside other construction employers. By assets it is the 65th-largest of 279 plans among North Dakota employers on file, and the 1,209th of 5,337 in construction. active participation has shrunk from 155 to 109 since 2022.
Mayo Construction Company, Inc.'s 2023 employer contribution ran above the $2,440 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
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Source: U.S. Department of Labor, Form 5500 series, EIN 450351973 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.