Medvet, Inc. 401(k) Review & Grade
Medvet, Inc. Employees Savings Trust
Worthington, OHProfessional, Scientific & Technical Services3,409 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,501Employer $ per active participant
$4,670Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$146.7MNet plan assets, end of year
$57,116Average balance per account
Score breakdown
- Employer generosity13.7 / 5027th percentile for employer $ per participant
- Low cost7.9 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving3.9 / 1526th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score16 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 27th |
| Lower admin cost | 31th |
| Employee saving | 26th |
| Peers that auto-enroll | 47% |
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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 ($35,899 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $947,647 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Medvet put in about $1,501 per active participant, below the typical peer ($2,951). 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 (0.22% 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 | $5,118,262 |
| Participant (employee) contributions | $15,920,241 |
| Other contributions (incl. rollovers in) | $1,108,032 |
| Administrative expenses paid from the plan | $288,821 |
| Contract administrator fees | $1,500 |
| Investment advisory & management fees | $110,648 |
| Benefits paid out | $10,484,823 |
| Net assets, start / end of year | $117.7M / $146.7M |
| Active participants, start / end of year | 3,315 / 3,503 |
| Participants with account balances | 2,568 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $178,173 reported compensation |
| Everhart Financial Group Inc | $110,648 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010133621NAL0018709858001, received 2025-10-10, EIN 90-1033476, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.