Mid-America Apartment Communities, Inc. 401(k) Review & Grade
Maa 401(k) Savings Plan
Germantown, TNReal Estate & Rental2,132 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,300Employer $ per active participant
$3,799Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$143.6MNet plan assets, end of year
$52,133Average balance per account
Score breakdown
- Employer generosity36.7 / 5073th percentile for employer $ per participant
- Low cost13.0 / 2552th percentile for low admin cost vs. same-size plans
- Employee saving7.7 / 1551th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 73th |
| Lower admin cost | 52th |
| Employee saving | 51th |
| Peers that auto-enroll | 47% |
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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
- Mid-America Apartment Communities put in about $2,300 per active participant, more than the typical peer ($1,279). 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.
- 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 | $4,902,560 |
| Participant (employee) contributions | $8,096,529 |
| Other contributions (incl. rollovers in) | $730,983 |
| Administrative expenses paid from the plan | $290,427 |
| Investment advisory & management fees | $46,189 |
| Benefits paid out | $14,597,617 |
| Net assets, start / end of year | $127.7M / $143.6M |
| Active participants, start / end of year | 2,121 / 2,142 |
| Participants with account balances | 2,755 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Warren Averett |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $243,313 reported compensation |
| Empower Advisory Group, LLC | $45,589 reported compensation |
| Qdro Consultants Company, LLC | $600 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250605153604NAL0008585315001, received 2025-06-05, EIN 62-1543819, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.