Medix Staffing Solutions, Inc. 401(k) Review & Grade
Medix Staffing Solutions, Inc. 401(k) Plan
Oak Brook, ILAdministrative, Support & Staffing Services2,526 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$805Employer $ per active participant
$2,467Employee $ saved per active participant
0.50%Direct admin cost, % of plan assets
$59.7MNet plan assets, end of year
$24,029Average balance per account
Score breakdown
- Employer generosity33.5 / 5067th percentile for employer $ per participant
- Low cost3.3 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving9.9 / 1566th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 2,500–9,999 active participants (125 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 67th |
| Lower admin cost | 13th |
| Employee saving | 66th |
| Peers that auto-enroll | 22% |
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Red flags from the filing
Corrective distributions: the plan refunded $9,653 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Medix Staffing Solutions put in about $805 per active participant, more than the typical peer ($342). 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 (0.50% 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 | $2,034,117 |
| Participant (employee) contributions | $6,231,641 |
| Other contributions (incl. rollovers in) | $115,589 |
| Administrative expenses paid from the plan | $268,436 |
| Investment advisory & management fees | $80,369 |
| Benefits paid out | $4,310,833 |
| Net assets, start / end of year | $48.2M / $59.7M |
| Active participants, start / end of year | 2,731 / 2,320 |
| Participants with account balances | 2,484 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $188,066 reported compensation |
| Creative Planning Holdco, LLC | $80,369 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014055446NAL0002265073001, received 2025-10-14, EIN 26-0019561, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.