Merit Medical Systems, Inc. 401(k) Review & Grade
Merit Medical Systems, Inc. 401(k) Profit Sharing Plan
South Jordan, UTManufacturing3,170 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,570Employer $ per active participant
$4,311Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$216.8MNet plan assets, end of year
$96,328Average balance per account
Score breakdown
- Employer generosity9.9 / 5020th percentile for employer $ per participant
- Low cost13.3 / 2553th percentile for low admin cost vs. same-size plans
- Employee saving4.3 / 1528th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 53th |
| Employee saving | 28th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $271,051 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Merit Medical Systems put in about $1,570 per active participant, below the typical peer ($3,452). 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.
- 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 | $4,975,364 |
| Participant (employee) contributions | $13,664,555 |
| Other contributions (incl. rollovers in) | $5,988,027 |
| Administrative expenses paid from the plan | $226,783 |
| Investment advisory & management fees | $169,060 |
| Benefits paid out | $23,854,595 |
| Net assets, start / end of year | $185.3M / $216.8M |
| Active participants, start / end of year | 3,015 / 3,324 |
| Participants with account balances | 2,251 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche |
| Employer stock held by plan | $47,972,130 |
Largest service providers (Schedule C)
| Soltis Investment Advisors, Inc. | $139,426 reported compensation |
| Fidelity Investments Institutional | $57,723 reported compensation |
| Capfinancial Partners, LLC | $30,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924160601NAL0003132643001, received 2025-09-24, EIN 87-0447695, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.