Mhky Management Services, LLC 401(k) Review & Grade
Masonic Homes Ky Retirement Savings Plan
Masonic Home, KYHealth Care & Social Assistance558 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$717Employer $ per active participant
$1,478Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$11.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity21.5 / 5043th percentile for employer $ per participant
- Low cost10.6 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving4.9 / 1533th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 42th |
| Employee saving | 33th |
| 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
- Mhky Management Services put in about $717 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.
- 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 | $399,812 |
| Participant (employee) contributions | $824,598 |
| Other contributions (incl. rollovers in) | $4,659 |
| Administrative expenses paid from the plan | $31,515 |
| Investment advisory & management fees | $21,771 |
| Benefits paid out | $1,591,653 |
| Net assets, start / end of year | $10.6M / $11.5M |
| Active participants, start / end of year | 640 / 476 |
| Participants with account balances | 221 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
Largest service providers (Schedule C)
| Stock Yards Bank & Trust | $21,394 reported compensation |
| Empower Annuity Insurance Company | $9,744 reported compensation |
| Ameriprise Financial Services LLC | $7,738 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926140706NAL0011909091001, received 2025-09-26, EIN 99-1685481, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.