Medcor, Inc. 401(k) Review & Grade
Medcor, Inc. Profit Sharing Thrift & Investment Plan
Mchenry, ILHealth Care & Social Assistance2,260 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$425Employer $ per active participant
$1,784Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$47.2MNet plan assets, end of year
$37,726Average balance per account
Score breakdown
- Employer generosity15.6 / 5031th percentile for employer $ per participant
- Low cost17.6 / 2570th percentile for low admin cost vs. same-size plans
- Employee saving5.7 / 1538th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score42 / 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 | 31th |
| Lower admin cost | 70th |
| Employee saving | 38th |
| Peers that auto-enroll | 36% |
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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
- Medcor put in about $425 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.
- 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.
- 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 | $961,471 |
| Participant (employee) contributions | $4,031,785 |
| Other contributions (incl. rollovers in) | $250,107 |
| Administrative expenses paid from the plan | $52,393 |
| Benefits paid out | $6,269,064 |
| Net assets, start / end of year | $43.1M / $47.2M |
| Active participants, start / end of year | 2,205 / 2,315 |
| Participants with account balances | 1,251 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| First American Bank | $52,393 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730193909NAL0011372898001, received 2025-07-30, EIN 36-3329823, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.