MSP Real Estate 401(k) Review & Grade
MSP Real Estate 401(k) Plan
West Allis, WIReal Estate & Rental726 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$507Employer $ per active participant
$1,031Employee $ saved per active participant
1.03%Direct admin cost, % of plan assets
$5.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.5 / 5021th percentile for employer $ per participant
- Low cost1.5 / 256th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 159th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score13 / 100 · Grade F
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 21th |
| Lower admin cost | 6th |
| Employee saving | 9th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $667 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- MSP Real Estate put in about $507 per active participant, below the typical peer ($1,279). 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 (1.03% 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 | $367,888 |
| Participant (employee) contributions | $747,851 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $54,308 |
| Investment advisory & management fees | $39,511 |
| Benefits paid out | $1,027,751 |
| Net assets, start / end of year | $4.9M / $5.7M |
| Active participants, start / end of year | 793 / 658 |
| Participants with account balances | 339 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Sva |
Largest service providers (Schedule C)
| Associated Trust Company, N.A. | $54,101 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014142147NAL0001535379003, received 2025-10-14, EIN 41-1630478, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.