M & K Employee Services, Inc. 401(k) Review & Grade
M & K Employee Services, Inc. 401(k) Plan
Byron Center, MIOther Services932 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$813Employer $ per active participant
$3,632Employee $ saved per active participant
0.32%Direct admin cost, % of plan assets
$35.5MNet plan assets, end of year
$45,452Average balance per account
Score breakdown
- Employer generosity19.0 / 5038th percentile for employer $ per participant
- Low cost9.5 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1564th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 38th |
| Lower admin cost | 38th |
| Employee saving | 64th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
Corrective distributions: the plan refunded $141,929 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- M & K Employee Services put in about $813 per active participant, below the typical peer ($1,257). 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 | $758,506 |
| Participant (employee) contributions | $3,387,085 |
| Other contributions (incl. rollovers in) | $745,925 |
| Administrative expenses paid from the plan | $105,213 |
| Contract administrator fees | $91,864 |
| Benefits paid out | $3,047,211 |
| Net assets, start / end of year | $29.6M / $35.5M |
| Active participants, start / end of year | 858 / 1,007 |
| Participants with account balances | 780 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Hungerford |
Largest service providers (Schedule C)
| Wintrust Private Trust Company | $105,213 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015123844NAL0004557281001, received 2025-10-15, EIN 20-0403563, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.