Millennium Physician Group, LLC 401(k) Review & Grade
Millennium Physician Group 401(k) Plan & Trust
Fort Myers, FLHealth Care & Social Assistance3,597 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,150Employer $ per active participant
$4,942Employee $ saved per active participant
0.42%Direct admin cost, % of plan assets
$36.6MNet plan assets, end of year
$11,083Average balance per account
Score breakdown
- Employer generosity41.3 / 5083th percentile for employer $ per participant
- Low cost3.9 / 2515th percentile for low admin cost vs. same-size plans
- Employee saving10.7 / 1571th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 15th |
| Employee saving | 71th |
| Peers that auto-enroll | 38% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Millennium Physician Group put in about $3,150 per active participant, more than the typical peer ($800). 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.
- Direct plan expenses (0.42% of assets) are well above similar-size plans (0.12%). 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 | $11,331,404 |
| Participant (employee) contributions | $17,776,296 |
| Other contributions (incl. rollovers in) | $6,808,712 |
| Administrative expenses paid from the plan | $414,203 |
| Contract administrator fees | $382,218 |
| Investment advisory & management fees | $31,985 |
| Benefits paid out | $25,185,352 |
| Net assets, start / end of year | $158.6M / $36.6M |
| Active participants, start / end of year | 3,604 / 3,590 |
| Participants with account balances | 3,305 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Carr, Riggs & Ingram, LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $382,218 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $48,750 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250807132355NAL0008467026001, received 2025-08-07, EIN 26-2909414, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.