Modernizing Medicine, Inc. 401(k) Review & Grade
Modernizing Medicine, Inc. 401(k) Plan
Boca Raton, FLInformation1,589 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,061Employer $ per active participant
$7,871Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$114.8MNet plan assets, end of year
$72,550Average balance per account
Score breakdown
- Employer generosity27.0 / 5054th percentile for employer $ per participant
- Low cost14.8 / 2559th percentile for low admin cost vs. same-size plans
- Employee saving6.7 / 1544th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 59th |
| Employee saving | 44th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,797 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Modernizing Medicine put in about $3,061 per active participant, more than the typical peer ($2,829). 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.
- 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 | $4,863,789 |
| Participant (employee) contributions | $12,506,661 |
| Other contributions (incl. rollovers in) | $3,427,074 |
| Administrative expenses paid from the plan | $176,869 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $35,224 |
| Benefits paid out | $13,409,386 |
| Net assets, start / end of year | $93.1M / $114.8M |
| Active participants, start / end of year | 1,563 / 1,615 |
| Participants with account balances | 1,582 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $141,645 reported compensation |
| Strategic Advisors, Inc. | $35,224 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250916144633NAL0002070993001, received 2025-09-16, EIN 27-2070905, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.