Morningstar Senior Management, LLC 401(k) Review & Grade
Morningstar Senior Living Retirement Plan
Englewood, COHealth Care & Social Assistance2,476 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$142Employer $ per active participant
$586Employee $ saved per active participant
0.84%Direct admin cost, % of plan assets
$6.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity9.3 / 5019th percentile for employer $ per participant
- Low cost2.3 / 259th percentile for low admin cost vs. same-size plans
- Employee saving2.0 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score14 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 9th |
| Employee saving | 13th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $8,137 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Morningstar Senior Management put in about $142 per active participant, below the typical peer ($976). 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 (0.84% 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 | $350,515 |
| Participant (employee) contributions | $1,450,539 |
| Other contributions (incl. rollovers in) | $224,606 |
| Administrative expenses paid from the plan | $45,255 |
| Other admin expenses | $45,255 |
| Benefits paid out | $1,020,328 |
| Net assets, start / end of year | $4.5M / $6.2M |
| Active participants, start / end of year | 2,642 / 2,309 |
| Participants with account balances | 417 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Kimberlin Company, PLLC |
Largest service providers (Schedule C)
| T. Rowe Price | $44,170 reported compensation |
| American Funds | $0 reported compensation |
| Dimensional Funds | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250908150950NAL0011996419001, received 2025-09-08, EIN 20-3561128, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.