Meridian Executive Services LLC 401(k) Review & Grade
Meridian 401(k) Plan
Orem, UTHealth Care & Social Assistance2,144 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$408Employer $ per active participant
$683Employee $ saved per active participant
0.46%Direct admin cost, % of plan assets
$18.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity15.1 / 5030th percentile for employer $ per participant
- Low cost6.4 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving2.3 / 1515th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 30th |
| Lower admin cost | 26th |
| Employee saving | 15th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Meridian Executive Services put in about $408 per active participant, below the typical peer ($976). 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.
- Direct plan expenses (0.46% 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.
- 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 | $875,182 |
| Participant (employee) contributions | $1,463,993 |
| Other contributions (incl. rollovers in) | $1,785,036 |
| Administrative expenses paid from the plan | $76,383 |
| Investment advisory & management fees | $54,284 |
| Benefits paid out | $1,436,584 |
| Net assets, start / end of year | $14.2M / $18.9M |
| Active participants, start / end of year | 2,202 / 2,087 |
| Participants with account balances | 518 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Hinton Burdick |
Largest service providers (Schedule C)
| Kestra Advisory Services LLC | $30,000 reported compensation |
| Empower Advisory Group, LLC | $24,284 reported compensation |
| Empower Annuity Insurance Company | $22,099 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014121004NAL0005761986001, received 2025-10-14, EIN 20-5946937, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.