Medica Services Company LLC 401(k) Review & Grade
Medica 401(k) Matched Savings Plan
Minnetonka, MNFinance & Insurance2,548 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,287Employer $ per active participant
$9,496Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$455.0MNet plan assets, end of year
$146,150Average balance per account
Score breakdown
- Employer generosity34.6 / 5069th percentile for employer $ per participant
- Low cost16.5 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving9.1 / 1561th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 69th |
| Lower admin cost | 66th |
| Employee saving | 61th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $10,223 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Medica Services Company put in about $6,287 per active participant, more than the typical peer ($4,489). 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 | $16,016,431 |
| Participant (employee) contributions | $24,191,820 |
| Other contributions (incl. rollovers in) | $5,127,490 |
| Administrative expenses paid from the plan | $330,668 |
| Contract administrator fees | $294,629 |
| Investment advisory & management fees | $36,039 |
| Benefits paid out | $60,041,965 |
| Net assets, start / end of year | $412.1M / $455.0M |
| Active participants, start / end of year | 2,726 / 2,369 |
| Participants with account balances | 3,113 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| John Hancock | $330,668 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250904081147NAL0009574835001, received 2025-09-04, EIN 85-2902940, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.