Morgan & Morgan P a 401(k) Review & Grade
Morgan & Morgan P a 401(k) Profit Sharing Plan and Trust
Orlando, FLProfessional, Scientific & Technical Services4,488 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$806Employer $ per active participant
$5,292Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$192.7MNet plan assets, end of year
$38,312Average balance per account
Score breakdown
- Employer generosity9.8 / 5020th percentile for employer $ per participant
- Low cost8.3 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving4.2 / 1528th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score19 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 33th |
| Employee saving | 28th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($1,447,651 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $38,466 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Morgan & Morgan P a put in about $806 per active participant, below the typical peer ($2,951). 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 (0.21% of assets) are well above similar-size plans (0.12%). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $3,615,105 |
| Participant (employee) contributions | $23,749,934 |
| Other contributions (incl. rollovers in) | $3,665,274 |
| Administrative expenses paid from the plan | $363,810 |
| Investment advisory & management fees | $99,711 |
| Benefits paid out | $20,231,843 |
| Net assets, start / end of year | $156.5M / $192.7M |
| Active participants, start / end of year | 4,222 / 4,754 |
| Participants with account balances | 5,031 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rehmann Robson LLC |
Largest service providers (Schedule C)
| Empower Annuity Ins Co of America | $264,100 reported compensation |
| Shuster Advisory Group LLC | $82,996 reported compensation |
| Empower Advisory Group, LLC | $16,714 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015071323NAL0002040275001, received 2025-10-15, EIN 59-2920684, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.