R.e. Michel Company, LLC 401(k) Review & Grade
R.e. Michel Company, LLC 401(k) Profit Sharing and Savings Plan
Glen Burnie, MDWholesale Trade2,058 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$788Employer $ per active participant
$3,378Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$92.8MNet plan assets, end of year
$39,911Average balance per account
Score breakdown
- Employer generosity8.5 / 5017th percentile for employer $ per participant
- Low cost7.7 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving4.3 / 1529th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 17th |
| Lower admin cost | 31th |
| Employee saving | 29th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $16,040 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- R.e. Michel Company put in about $788 per active participant, below the typical peer ($1,792). 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 (0.40% 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.
- 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 | $1,620,847 |
| Participant (employee) contributions | $6,951,231 |
| Other contributions (incl. rollovers in) | $410,371 |
| Administrative expenses paid from the plan | $345,268 |
| Investment advisory & management fees | $133,762 |
| Benefits paid out | $8,017,776 |
| Net assets, start / end of year | $82.0M / $92.8M |
| Active participants, start / end of year | 2,121 / 1,994 |
| Participants with account balances | 2,326 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $225,185 reported compensation |
| Harbor Investment Advisory, LLC | $60,041 reported compensation |
| Charles Schwab & Co, Inc. | $52 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250801055017NAL0003593427001, received 2025-08-01, EIN 52-0577320, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.