Mary T. Inc. 401(k) Review & Grade
Mary T. Inc. 401(k) Savings Plan
Coon Rapids, MNHealth Care & Social Assistance569 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$699Employer $ per active participant
$2,080Employee $ saved per active participant
1.41%Direct admin cost, % of plan assets
$11.3MNet plan assets, end of year
$13,607Average balance per account
Score breakdown
- Employer generosity21.0 / 5042th percentile for employer $ per participant
- Low cost0.7 / 253th percentile for low admin cost vs. same-size plans
- Employee saving6.4 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 42th |
| Lower admin cost | 3th |
| Employee saving | 43th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $15 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mary T. put in about $699 per active participant, below the typical peer ($976). 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 (1.41% 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.
- 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 | $397,782 |
| Participant (employee) contributions | $1,183,499 |
| Other contributions (incl. rollovers in) | $6,329 |
| Administrative expenses paid from the plan | $160,570 |
| Investment advisory & management fees | $28,202 |
| Benefits paid out | $2,832,868 |
| Net assets, start / end of year | $11.4M / $11.3M |
| Active participants, start / end of year | 518 / 620 |
| Participants with account balances | 829 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Schechter Dokken Kanter, Cpas |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $132,368 reported compensation |
| Mma Securities | $28,202 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013151954NAL0002298688001, received 2025-10-13, EIN 41-1525780, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.