MVP Operations, LLC 401(k) Review & Grade
MVP Sports Clubs 401(k) Plan
Grand Rapids, MIArts, Entertainment & Recreation524 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$241Employer $ per active participant
$772Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$6.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.1 / 5014th percentile for employer $ per participant
- Low cost7.6 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving2.5 / 1517th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score17 / 100 · Grade F
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 30th |
| Employee saving | 17th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $9,188 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- MVP Operations put in about $241 per active participant, below the typical peer ($995). 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 (0.40% 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 | $125,944 |
| Participant (employee) contributions | $404,215 |
| Other contributions (incl. rollovers in) | $15,236 |
| Administrative expenses paid from the plan | $28,103 |
| Contract administrator fees | $9,857 |
| Investment advisory & management fees | $15,146 |
| Other admin expenses | $3,100 |
| Benefits paid out | $1,748,181 |
| Net assets, start / end of year | $7.2M / $6.7M |
| Active participants, start / end of year | 511 / 536 |
| Participants with account balances | 158 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Monroe, Sweeris & Tromp P.L.C. |
Largest service providers (Schedule C)
| Rockefeller Capital Management | $11,827 reported compensation |
| Principal Life Insurance Company | $9,857 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $6,425 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929094458NAL0004947299001, received 2025-09-29, EIN 20-5999267, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.