Medical Associates Clinic, P.C. 401(k) Review & Grade
Medical Associates Clinic P. C. 401(k) Profit Sharing Plan
Dubuque, IAHealth Care & Social Assistance1,094 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,014Employer $ per active participant
$7,233Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$320.4MNet plan assets, end of year
$229,365Average balance per account
Score breakdown
- Employer generosity46.6 / 5093th percentile for employer $ per participant
- Low cost21.8 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving14.0 / 1594th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score89 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 87th |
| Employee saving | 94th |
| Peers that auto-enroll | 36% |
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
Corrective distributions: the plan refunded $4,566 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Medical Associates Clinic put in about $6,014 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 | $6,579,371 |
| Participant (employee) contributions | $7,912,918 |
| Other contributions (incl. rollovers in) | $4,947,031 |
| Administrative expenses paid from the plan | $156,843 |
| Contract administrator fees | $1,709 |
| Benefits paid out | $26,984,085 |
| Net assets, start / end of year | $294.1M / $320.4M |
| Active participants, start / end of year | 1,085 / 1,103 |
| Participants with account balances | 1,397 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailly LLP |
Largest service providers (Schedule C)
| Steele Capital Management Inc | $85,787 reported compensation |
| Capfinancial Partners LLC DBA Captr | $44,306 reported compensation |
| Eide Bailly LLP | $14,700 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007134732NAL0002514803001, received 2025-10-07, EIN 42-1115442, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.