Midwest Veterinary Partners. LLC 401(k) Review & Grade
Midwest Veterinary Partners 401(k) Plan
Southfield, MIProfessional, Scientific & Technical Services7,626 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,599Employer $ per active participant
$3,398Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$165.5MNet plan assets, end of year
$35,085Average balance per account
Score breakdown
- Employer generosity14.3 / 5029th percentile for employer $ per participant
- Low cost5.9 / 2524th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score23 / 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 | 29th |
| Lower admin cost | 24th |
| Employee saving | 18th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $267 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Midwest Veterinary Partners. put in about $1,599 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 (0.29% 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 | $12,195,394 |
| Participant (employee) contributions | $25,911,406 |
| Other contributions (incl. rollovers in) | $5,459,804 |
| Administrative expenses paid from the plan | $414,312 |
| Contract administrator fees | $303,149 |
| Investment advisory & management fees | $111,163 |
| Benefits paid out | $13,533,237 |
| Net assets, start / end of year | $118.2M / $165.5M |
| Active participants, start / end of year | 7,303 / 7,950 |
| Participants with account balances | 4,716 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plante & Moran, PLLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $303,149 reported compensation |
| Creative Planning, LLC | $111,257 reported compensation |
| Creative Planning, LLC | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250923141532NAL0008142051001, received 2025-09-23, EIN 32-0541312, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.