MSK Group, PC DBA Orthosouth 401(k) Review & Grade
Orthosouth 401(k) Profit Sharing Plan
Memphis, TNHealth Care & Social Assistance500 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,728Employer $ per active participant
$4,085Employee $ saved per active participant
0.43%Direct admin cost, % of plan assets
$92.8MNet plan assets, end of year
$181,659Average balance per account
Score breakdown
- Employer generosity46.2 / 5092th percentile for employer $ per participant
- Low cost7.1 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving10.4 / 1569th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 28th |
| Employee saving | 69th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($18,708 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- MSK Group, PC DBA Orthosouth put in about $5,728 per active participant, more than the typical peer ($976). 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.
- Direct plan expenses (0.43% 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $2,864,217 |
| Participant (employee) contributions | $2,042,300 |
| Other contributions (incl. rollovers in) | $1,945,509 |
| Administrative expenses paid from the plan | $366,703 |
| Contract administrator fees | $141,674 |
| Investment advisory & management fees | $225,029 |
| Benefits paid out | $2,317,647 |
| Net assets, start / end of year | $79.2M / $92.8M |
| Active participants, start / end of year | 474 / 526 |
| Participants with account balances | 511 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Reynolds, Bone & Briesbeck, PLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $141,673 reported compensation |
| Raymond James Financial Services | $84,161 reported compensation |
| J P Morgan Securities LLC | $80,405 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014153938NAL0003185841001, received 2025-10-14, EIN 62-0819926, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.