MBS Asset Management LLC 401(k) Review & Grade
MBS Asset Management, LLC 401(k) Plan
Manhattan Beach, CAProfessional, Scientific & Technical Services690 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,169Employer $ per active participant
$6,321Employee $ saved per active participant
0.60%Direct admin cost, % of plan assets
$56.7MNet plan assets, end of year
$84,972Average balance per account
Score breakdown
- Employer generosity32.9 / 5066th percentile for employer $ per participant
- Low cost4.4 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving4.8 / 1532th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 66th |
| Lower admin cost | 17th |
| Employee saving | 32th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- MBS Asset Management put in about $4,169 per active participant, more than the typical peer ($3,082). 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.
- Direct plan expenses (0.60% 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 | $2,878,545 |
| Participant (employee) contributions | $4,364,502 |
| Other contributions (incl. rollovers in) | $346,807 |
| Administrative expenses paid from the plan | $311,858 |
| Investment advisory & management fees | $231,831 |
| Benefits paid out | $3,679,179 |
| Net assets, start / end of year | $47.0M / $56.7M |
| Active participants, start / end of year | 723 / 658 |
| Participants with account balances | 667 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Windes, Inc. |
Largest service providers (Schedule C)
| Bank of America NA | $231,831 reported compensation |
| Transamerica Retirement Solutions | $80,027 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250509114023NAL0013253121001, received 2025-05-09, EIN 27-5242020, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.