Medical Mutual of Ohio 401(k) Review & Grade
Medical Mutual of Ohio Employees' Retirement Savings Plan
Cleveland, OHFinance & Insurance3,324 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,733Employer $ per active participant
$8,999Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$799.4MNet plan assets, end of year
$181,734Average balance per account
Score breakdown
- Employer generosity43.7 / 5087th percentile for employer $ per participant
- Low cost23.9 / 2596th percentile for low admin cost vs. same-size plans
- Employee saving8.1 / 1554th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score83 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 96th |
| Employee saving | 54th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $84,799 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Medical Mutual of Ohio put in about $9,733 per active participant, more than the typical peer ($4,489). 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 | $32,352,164 |
| Participant (employee) contributions | $29,911,574 |
| Other contributions (incl. rollovers in) | $12,157,896 |
| Administrative expenses paid from the plan | $122,100 |
| Contract administrator fees | $2,100 |
| Other admin expenses | $120,000 |
| Benefits paid out | $87,475,125 |
| Net assets, start / end of year | $715.5M / $799.4M |
| Active participants, start / end of year | 3,049 / 3,599 |
| Participants with account balances | 4,399 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Highland Consulting | $120,000 reported compensation |
| Fidelity Investments Institutional | −$332,679 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006143530NAL0006307120001, received 2025-10-06, EIN 34-0648820, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.