Orion Associates/meridian Services, Inc. 401(k) Review & Grade
Orion Associates/meridian Services, Inc. 401(k) Retirement Plan
Golden Valley, MNHealth Care & Social Assistance641 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$584Employer $ per active participant
$2,130Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$14.1MNet plan assets, end of year
$31,284Average balance per account
Score breakdown
- Employer generosity19.4 / 5039th percentile for employer $ per participant
- Low cost14.5 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving6.5 / 1543th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 58th |
| Employee saving | 43th |
| 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 ($923 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
- Orion Associates/meridian Services put in about $584 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $374,366 |
| Participant (employee) contributions | $1,365,450 |
| Other contributions (incl. rollovers in) | $204,528 |
| Administrative expenses paid from the plan | $23,552 |
| Contract administrator fees | $23,552 |
| Benefits paid out | $1,721,897 |
| Net assets, start / end of year | $12.4M / $14.1M |
| Active participants, start / end of year | 600 / 682 |
| Participants with account balances | 450 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Copeland Buhl & Company Pllp |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $23,551 reported compensation |
| Principal Securities Inc | $412 reported compensation |
| Wilshire Advisors | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251201152219NAL0005825875001, received 2025-12-01, EIN 20-0492522, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.