Medspeed, LLC 401(k) Review & Grade
Medspeed, LLC 401(k) Profit Sharing Plan & Trust
Elmhurst, ILAdministrative, Support & Staffing Services2,992 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$75Employer $ per active participant
$556Employee $ saved per active participant
0.94%Direct admin cost, % of plan assets
$11.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity16.5 / 5033th percentile for employer $ per participant
- Low cost1.3 / 255th percentile for low admin cost vs. same-size plans
- Employee saving4.6 / 1531th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 2,500–9,999 active participants (125 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 33th |
| Lower admin cost | 5th |
| Employee saving | 31th |
| Peers that auto-enroll | 22% |
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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 ($169 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Medspeed put in about $75 per active participant, below the typical peer ($342). 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.
- Direct plan expenses (0.94% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $223,992 |
| Participant (employee) contributions | $1,664,321 |
| Other contributions (incl. rollovers in) | $183,355 |
| Administrative expenses paid from the plan | $101,599 |
| Investment advisory & management fees | $35,000 |
| Other admin expenses | $22,388 |
| Benefits paid out | $1,083,262 |
| Net assets, start / end of year | $9.8M / $11.9M |
| Active participants, start / end of year | 3,039 / 2,945 |
| Participants with account balances | 613 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Fgmk, LLC |
Largest service providers (Schedule C)
| NFP Retirement Inc | $57,388 reported compensation |
| Empower Annuity Insurance Co | $44,520 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002132234NAL0000517169001, received 2025-10-02, EIN 36-4279497, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.