MCNAUGHTON-MCKAY ELECTRIC COMPANY EMPLOYEE STOCK OWNERSHIP PLAN · MADISON HEIGHTS, MI · plan year 2024
Employer contribution per participant · 2024
$1,780
McNaughton McKay Electric Company's 2024 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 $1,515,185,372 across 2,158 participant accounts, with employer contributions averaging $1,780 per active participant. See methodology for what Form 5500 does and doesn't capture.
The plan sits in the over $1B size bracket, benchmarked here against 1,229 comparable plans and shown alongside other wholesale trade employers. By assets it is the 25th-largest of 2,619 plans among Michigan employers on file, and the 37th of 4,246 in wholesale trade. active participation has grown from 1,386 to 1,621 since 2022.
Plan summary
Net assets, end of year$1,515,185,372
Participants with balances2,158
Active participants1,621
Employer contributions$2,885,628
Employee contributions—
Employer contribution per active participant$1,780
Average account balance$702,125
Benefits paid to participants$103,007,044
Plan auditUnmodified (clean) audit opinion
AuditorGROEN KLUKA & COMPANY P.C.
Plan history3
Yearassets · accounts · employer contribution
2024$1.5B · 2,158 accts · $2.9M emplr
2023$1.3B · 1,954 accts · $2.9M emplr
2022$1.0B · 1,794 accts · $13.3M emplr
Employer contributions to the McNaughton McKay Electric Company plan · 2024
Employer contribution per active participant$1,780
Median for plans this size$5,259
2024$1,780 per active participant
2023$1,962 per active participant
2022$9,601 per active participant
McNaughton McKay Electric Company's 2024 employer contribution ran below the $5,259 median for plans its size, in the bottom 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.
Source: U.S. Department of Labor, Form 5500 series, EIN 380812640 ·
Verify on EFAST2 ·
Amounts are as reported by the plan sponsor for the plan year shown.