Myriad Genetics, Inc. 401(k) Review & Grade
Myriad Genetics, Inc. 401(k) Profit Sharing Plan
Salt Lake City, UTHealth Care & Social Assistance2,644 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,861Employer $ per active participant
$11,055Employee $ saved per active participant
0.00%Direct admin cost, % of plan assets
$458.1MNet plan assets, end of year
$132,289Average balance per account
Score breakdown
- Employer generosity43.7 / 5087th percentile for employer $ per participant
- Low cost25.0 / 25100th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1597th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score83 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 100th |
| Employee saving | 97th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,656 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Myriad Genetics put in about $3,861 per active participant, more than the typical peer ($800). 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.
- 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 | $10,208,444 |
| Participant (employee) contributions | $29,229,233 |
| Other contributions (incl. rollovers in) | $4,210,125 |
| Administrative expenses paid from the plan | $1,566 |
| Contract administrator fees | $1,800 |
| Investment advisory & management fees | $175,981 |
| Benefits paid out | $38,276,659 |
| Net assets, start / end of year | $390.1M / $458.1M |
| Active participants, start / end of year | 2,559 / 2,729 |
| Participants with account balances | 3,463 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Squire & Company, PC |
Largest service providers (Schedule C)
| Merrill Lynch Pierce Fenner | $96,497 reported compensation |
| Strategic Advisors, Inc. | $70,734 reported compensation |
| Squire & Company, PC | $21,118 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010122952NAL0013112656001, received 2025-10-10, EIN 87-0494517, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.