Merck & Co., Inc. 401(k) Review & Grade
MSD Employee Stock Purchase & Savings Plan
Rahway, NJManufacturing2,207 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,971Employer $ per active participant
$10,337Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$545.5MNet plan assets, end of year
$228,707Average balance per account
Score breakdown
- Employer generosity31.4 / 5063th percentile for employer $ per participant
- Low cost24.6 / 2599th percentile for low admin cost vs. same-size plans
- Employee saving13.6 / 1591th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 63th |
| Lower admin cost | 99th |
| Employee saving | 91th |
| Peers that auto-enroll | 59% |
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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
- Merck & Co. put in about $2,971 per active participant, more than the typical peer ($2,320). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $6,556,421 |
| Participant (employee) contributions | $22,814,412 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $32,502 |
| Benefits paid out | $38,113,104 |
| Net assets, start / end of year | $498.6M / $545.5M |
| Active participants, start / end of year | 2,195 / 2,219 |
| Participants with account balances | 2,385 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pricewaterhousecoopers LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $32,502 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922091219NAL0002069555001, received 2025-09-22, EIN 22-1918501, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.