Meridian Cooperative, Inc. 401(k) Review & Grade
Meridian Cooperative Savings Plan
Atlanta, GAProfessional, Scientific & Technical Services556 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$10,674Employer $ per active participant
$8,253Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$109.3MNet plan assets, end of year
$160,925Average balance per account
Score breakdown
- Employer generosity46.1 / 5092th percentile for employer $ per participant
- Low cost11.5 / 2546th percentile for low admin cost vs. same-size plans
- Employee saving6.5 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 46th |
| Employee saving | 43th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,945 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Meridian Cooperative put in about $10,674 per active participant, more than the typical peer ($3,082). 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 | $5,940,126 |
| Participant (employee) contributions | $4,592,883 |
| Other contributions (incl. rollovers in) | $1,382,003 |
| Administrative expenses paid from the plan | $264,304 |
| Investment advisory & management fees | $258,123 |
| Benefits paid out | $8,806,817 |
| Net assets, start / end of year | $95.1M / $109.3M |
| Active participants, start / end of year | 562 / 551 |
| Participants with account balances | 679 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mcnair, Mclemore and Middlebrooks |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $264,354 reported compensation |
| Charles Schwab & Co., Inc. | $535 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014141647NAL0006375458002, received 2025-10-14, EIN 58-1257418, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.