Mohenis Services, Inc. 401(k) Review & Grade
Your Linen Services, 401(k) Plan
Petersburg, VAOther Services806 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$241Employer $ per active participant
$1,119Employee $ saved per active participant
0.92%Direct admin cost, % of plan assets
$12.7MNet plan assets, end of year
$18,840Average balance per account
Score breakdown
- Employer generosity8.4 / 5017th percentile for employer $ per participant
- Low cost1.9 / 258th percentile for low admin cost vs. same-size plans
- Employee saving4.2 / 1528th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 17th |
| Lower admin cost | 8th |
| Employee saving | 28th |
| Peers that auto-enroll | 40% |
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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
- Mohenis Services put in about $241 per active participant, below the typical peer ($1,257). 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 (0.92% of assets) are well above similar-size plans (0.23%). 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 | $194,746 |
| Participant (employee) contributions | $902,089 |
| Other contributions (incl. rollovers in) | $5,923 |
| Administrative expenses paid from the plan | $112,599 |
| Contract administrator fees | $112,599 |
| Benefits paid out | $1,722,748 |
| Net assets, start / end of year | $11.9M / $12.7M |
| Active participants, start / end of year | 806 / 807 |
| Participants with account balances | 675 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Retirement Plan Solutions, Inc | $48,032 reported compensation |
| Empower Annuity Ins Co of America | $44,911 reported compensation |
| Sageview Advisory Group, LLC | $24,275 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250916123851NAL0001314035001, received 2025-09-16, EIN 54-0487685, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.