M. E. Fields, Inc. 401(k) Review & Grade
Fields Profit Sharing and Savings Plan
Northfield, ILRetail Trade1,960 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$694Employer $ per active participant
$3,915Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$94.8MNet plan assets, end of year
$87,340Average balance per account
Score breakdown
- Employer generosity23.6 / 5047th percentile for employer $ per participant
- Low cost10.2 / 2541th percentile for low admin cost vs. same-size plans
- Employee saving9.6 / 1564th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 41th |
| Employee saving | 64th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($44,149 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $285,259 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- M. E. Fields put in about $694 per active participant, below the typical peer ($743). 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.
- 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,359,423 |
| Participant (employee) contributions | $7,673,721 |
| Other contributions (incl. rollovers in) | $2,276,908 |
| Administrative expenses paid from the plan | $266,076 |
| Contract administrator fees | $117,121 |
| Investment advisory & management fees | $137,955 |
| Benefits paid out | $10,066,539 |
| Net assets, start / end of year | $83.6M / $94.8M |
| Active participants, start / end of year | 1,833 / 2,087 |
| Participants with account balances | 1,085 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Miller Cooper & Co LTD |
Largest service providers (Schedule C)
| Morgan Stanley Smith Barney LLC | $137,955 reported compensation |
| John Hancock | $117,121 reported compensation |
| Miller Cooper & Co., LTD | $11,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924143035NAL0006856689001, received 2025-09-24, EIN 36-2713672, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.