M.J. Morgan Group, LLC 401(k) Review & Grade
M. J. Morgan Group, LLC 401(k) Profit Sharing Plan and Trust
Baltimore, MDAdministrative, Support & Staffing Services686 active participantsPlan year 2024
Estimate from the plan's Form 5500-SF filing · How we grade
$220Employer $ per active participant
$405Employee $ saved per active participant
1.18%Direct admin cost, % of plan assets
$3.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity14.9 / 5030th percentile for employer $ per participant
- Low cost1.2 / 255th percentile for low admin cost vs. same-size plans
- Employee saving2.5 / 1517th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 30th |
| Lower admin cost | 5th |
| Employee saving | 17th |
| Peers that auto-enroll | 27% |
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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
- M.J. Morgan Group put in about $220 per active participant, below the typical peer ($712). 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 (1.18% 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.
- 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 | $151,080 |
| Participant (employee) contributions | $277,836 |
| Other contributions (incl. rollovers in) | $13,972 |
| Administrative expenses paid from the plan | $41,110 |
| Benefits paid out | $187 |
| Net assets, start / end of year | $3.0M / $3.9M |
| Active participants, start / end of year | 580 / 793 |
| Participants with account balances | 89 |
| Auto-enrollment (feature code 2S) | Not reported |
Source: DOL EFAST2 Form 5500-SF filing, acknowledgment ID 20250929083751NAL0013599616001, received 2025-09-29, EIN 68-0621988, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.