Merrill Gardens, LLC 401(k) Review & Grade
R.D. Merrill Companies 401(k) Plan
Seattle, WAHealth Care & Social Assistance2,878 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$908Employer $ per active participant
$1,941Employee $ saved per active participant
0.58%Direct admin cost, % of plan assets
$50.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity26.7 / 5053th percentile for employer $ per participant
- Low cost2.6 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1541th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 53th |
| Lower admin cost | 10th |
| Employee saving | 41th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Merrill Gardens put in about $908 per active participant, more than the typical peer ($800). 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.
- Direct plan expenses (0.58% 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.
- 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 | $2,612,836 |
| Participant (employee) contributions | $5,585,306 |
| Other contributions (incl. rollovers in) | $1,285,123 |
| Administrative expenses paid from the plan | $271,138 |
| Contract administrator fees | $190,702 |
| Investment advisory & management fees | $80,436 |
| Benefits paid out | $6,618,198 |
| Net assets, start / end of year | $43.1M / $50.4M |
| Active participants, start / end of year | 2,898 / 2,857 |
| Participants with account balances | 1,261 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clark Nuber PS |
Largest service providers (Schedule C)
| John Hancock Retirement Plan Servic | $190,702 reported compensation |
| Gallagher Benefit Services | $80,436 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250923123734NAL0009188946001, received 2025-09-23, EIN 91-1738695, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.