Wayne-Metropolitan Community Action Agency 401(k) Review & Grade
Wayne-Metropolitan Community Action Agency 401k Plan and Trust Amended and Restated
Detroit, MIHealth Care & Social Assistance686 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,557Employer $ per active participant
$1,836Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$20.0MNet plan assets, end of year
$25,503Average balance per account
Score breakdown
- Employer generosity31.4 / 5063th percentile for employer $ per participant
- Low cost11.5 / 2546th percentile for low admin cost vs. same-size plans
- Employee saving5.9 / 1539th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 63th |
| Lower admin cost | 46th |
| Employee saving | 39th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Wayne-Metropolitan Community Action Agency put in about $1,557 per active participant, more than the typical peer ($976). 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 | $1,068,794 |
| Participant (employee) contributions | $1,260,072 |
| Other contributions (incl. rollovers in) | $22,497 |
| Administrative expenses paid from the plan | $48,813 |
| Contract administrator fees | $10,135 |
| Investment advisory & management fees | $38,678 |
| Benefits paid out | $2,629,240 |
| Net assets, start / end of year | $17.8M / $20.0M |
| Active participants, start / end of year | 689 / 684 |
| Participants with account balances | 785 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Yeo & Yeo P.C. |
Largest service providers (Schedule C)
| American United Life Insurance Co | $81,452 reported compensation |
| Assuredpartners Inv Advisors | $65,686 reported compensation |
| RT Jones Capital Equities Mgmt Inc | $38,678 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250731103707NAL0002984339001, received 2025-07-31, EIN 38-1976979, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.