Morrison, Ekre & Bart Management Services, Inc. 401(k) Review & Grade
Morrison, Ekre & Bart Management Services, Inc. 401(k) Plan
Phoenix, AZReal Estate & Rental1,014 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$506Employer $ per active participant
$1,361Employee $ saved per active participant
1.32%Direct admin cost, % of plan assets
$14.6MNet plan assets, end of year
$25,404Average balance per account
Score breakdown
- Employer generosity10.3 / 5021th percentile for employer $ per participant
- Low cost0.9 / 253th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score13 / 100 · Grade F
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 21th |
| Lower admin cost | 3th |
| Employee saving | 14th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,509 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Morrison, Ekre & Bart Management Services put in about $506 per active participant, below the typical peer ($1,279). 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 (1.32% 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 | $513,056 |
| Participant (employee) contributions | $1,380,558 |
| Other contributions (incl. rollovers in) | $311,043 |
| Administrative expenses paid from the plan | $152,342 |
| Contract administrator fees | $67,768 |
| Investment advisory & management fees | $39,970 |
| Other admin expenses | $13,396 |
| Benefits paid out | $1,990,426 |
| Net assets, start / end of year | $8.5M / $14.6M |
| Active participants, start / end of year | 1,077 / 951 |
| Participants with account balances | 574 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Metz CPA PLLC |
Largest service providers (Schedule C)
| Bayntree Wealth Advisors, LLC | $39,970 reported compensation |
| Futureplan by Ascensus | $31,208 reported compensation |
| John Hancock Life Insurance Company | $6,806 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015132155NAL0002476723001, received 2025-10-15, EIN 86-0845708, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.