Maryland & Virginia Milk Producers Cooperative Association, Inc. 401(k) Review & Grade
Maryland & Virginia Milk Producers Cooperative Association, Inc. 401(k) Retirement Plan
Herndon, VAWholesale Trade696 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,835Employer $ per active participant
$5,657Employee $ saved per active participant
0.51%Direct admin cost, % of plan assets
$42.3MNet plan assets, end of year
$51,203Average balance per account
Score breakdown
- Employer generosity25.8 / 5052th percentile for employer $ per participant
- Low cost5.6 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving9.6 / 1564th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 52th |
| Lower admin cost | 22th |
| Employee saving | 64th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($203 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $17,190 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Maryland & Virginia Milk Producers Cooperative Association put in about $1,835 per active participant, more than the typical peer ($1,792). 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 (0.51% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,276,554 |
| Participant (employee) contributions | $3,934,588 |
| Other contributions (incl. rollovers in) | $1,606,458 |
| Administrative expenses paid from the plan | $202,402 |
| Contract administrator fees | $156,157 |
| Investment advisory & management fees | $46,245 |
| Benefits paid out | $5,424,794 |
| Net assets, start / end of year | $36.6M / $42.3M |
| Active participants, start / end of year | 688 / 703 |
| Participants with account balances | 826 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Torrillo & Associates, LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $156,157 reported compensation |
| Northeast Financial Group | $46,263 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250905124528NAL0010358771001, received 2025-09-05, EIN 54-0629090, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.