Midmark Corporation 401(k) Review & Grade
Midmark Corporation 401(k) Savings Plan
Versailles, OHManufacturing1,965 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,595Employer $ per active participant
$8,339Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$359.0MNet plan assets, end of year
$154,481Average balance per account
Score breakdown
- Employer generosity35.0 / 5070th percentile for employer $ per participant
- Low cost22.7 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1582th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 70th |
| Lower admin cost | 91th |
| Employee saving | 82th |
| Peers that auto-enroll | 59% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Prohibited transactions: the plan reported non-exempt transactions with a party in interest.
What to do if you're in this plan
- Midmark put in about $3,595 per active participant, more than the typical peer ($2,320). 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 | $7,063,745 |
| Participant (employee) contributions | $16,386,577 |
| Other contributions (incl. rollovers in) | $999,383 |
| Administrative expenses paid from the plan | $128,616 |
| Investment advisory & management fees | $76,101 |
| Other admin expenses | −$56,500 |
| Benefits paid out | $26,674,644 |
| Net assets, start / end of year | $316.9M / $359.0M |
| Active participants, start / end of year | 1,984 / 1,946 |
| Participants with account balances | 2,324 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Sageview Advisory Group LLC | $63,242 reported compensation |
| Fidelity Investments Institutional | $48,103 reported compensation |
| RSM US LLP | $23,474 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250627112833NAL0009743969001, received 2025-06-27, EIN 34-4269370, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.