Meyer Distributing, Inc. 401(k) Review & Grade
Meyer Distributing, Inc. Retirement Plan
Jasper, INWholesale Trade1,316 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$367Employer $ per active participant
$1,055Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$12.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity3.2 / 506th percentile for employer $ per participant
- Low cost10.7 / 2543th percentile for low admin cost vs. same-size plans
- Employee saving0.7 / 155th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 6th |
| Lower admin cost | 43th |
| Employee saving | 5th |
| Peers that auto-enroll | 53% |
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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
- Meyer Distributing put in about $367 per active participant, below the typical peer ($1,792). 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.
- 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.
- 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 | $483,644 |
| Participant (employee) contributions | $1,389,365 |
| Other contributions (incl. rollovers in) | $301,917 |
| Administrative expenses paid from the plan | $30,614 |
| Contract administrator fees | $13,125 |
| Benefits paid out | $1,034,177 |
| Net assets, start / end of year | $9.6M / $12.3M |
| Active participants, start / end of year | 1,304 / 1,329 |
| Participants with account balances | 379 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Katz, Sapper & Miller, LLP |
Largest service providers (Schedule C)
| Retirement Plan Concepts & Srvcs | $9,181 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007104755NAL0002394931001, received 2025-10-07, EIN 35-0510955, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.