Medline Industries,lp 401(k) Review & Grade
Medline Industries, LP Retirement Plan
Northfield, ILWholesale Trade22,506 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,877Employer $ per active participant
$5,751Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$1.6BNet plan assets, end of year
$58,463Average balance per account
Score breakdown
- Employer generosity20.6 / 5041th percentile for employer $ per participant
- Low cost10.5 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving8.8 / 1559th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Wholesale Trade plans with 10,000+ active participants (35 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 42th |
| Employee saving | 59th |
| Peers that auto-enroll | 63% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($299,133 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $18,933 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Medline Industries,lp put in about $1,877 per active participant, below the typical peer ($2,420). 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.
- 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $42,236,056 |
| Participant (employee) contributions | $129,434,052 |
| Other contributions (incl. rollovers in) | $19,438,403 |
| Administrative expenses paid from the plan | $1,610,908 |
| Other admin expenses | $1,610,908 |
| Benefits paid out | $163,117,719 |
| Net assets, start / end of year | $1.4B / $1.6B |
| Active participants, start / end of year | 21,813 / 23,198 |
| Participants with account balances | 27,999 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $1,030,061 reported compensation |
| Vanguard Advisers Inc. | $709,722 reported compensation |
| Qdro Consultants | $5,550 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250714105742NAL0000943649001, received 2025-07-14, EIN 36-2596612, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.