Medico 401(k) match, vesting and fees
What Medico's 401(k) plan says about matching contributions
The Plan also allows for discretionary Company matching and discretionary, non-elective profit sharing contributions. Participants must complete one year of service and be employed on the last day of the Plan year in order to receive the discretionary Company matching and discretionary, non-elective profit sharing contributions. These contributions are determined annually. For the year ending December 31, 2024, the Company made a discretionary Company matching contribution equal to 2.188% of eligible compensation deferred by an employee.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 36 ↗ |
| Match vesting | Participants are immediately vested in their voluntary contributions plus actual earnings thereon. Vesting in the Company discretionary, matching contributions and discretionary, non-elective profit sharing contribution portions of their accounts plus actual earnings thereon is based on years of continuous service. A participant is 100% vested after six years of credited service. | Audit report, p. 37 ↗ |
| Recordkeeper | T. Rowe Price | Schedule C ↗ |
| Independent auditor | Bmss, LLC (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 1,281 defined-contribution plans in health care and social assistance with 1,000 to 4,999 participants.
| Medico: employer contribution per participant | $794 | |
| Peer median | $1,358 |
| Medico: average balance | $5,459 | |
| Peer median | $44,442 |
| Medico: admin expenses ÷ assets | 2.50% | |
| Peer median | 0.21% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $1.3M at the end of plan year 2022 to $6.5M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 3,336 | $6.5M | $944K | $794 | 2.50% | Quoted in the audit report, p. 36 ↗ | Form 5500 ↗ |
| 2023 | 3,326 | $3.8M | $750K | $833 | 2.54% | Not published | Form 5500 ↗ |
| 2022 | 3,618 | $1.3M | $562K | $1,280 | 2.00% | Not published | Form 5500 ↗ |
Common questions
Does Medico match 401(k) contributions?
The audit report attached to the Medico 401(k) Retirement Plan's plan year 2024 Form 5500, page 36 says: “The Plan also allows for discretionary Company matching and discretionary, non-elective profit sharing contributions. Participants must complete one year of service and be employed on the last day of the Plan year in order to receive the discretionary Company matching and discretionary, non-elective profit sharing contributions. These contributions are determined annually. For the year ending December 31, 2024, the Company made a discretionary Company matching contribution equal to 2.188% of eligible compensation deferred by an employee.” Plan terms may have changed; check your current Summary Plan Description.
When is the Medico 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 37 says: “Participants are immediately vested in their voluntary contributions plus actual earnings thereon. Vesting in the Company discretionary, matching contributions and discretionary, non-elective profit sharing contribution portions of their accounts plus actual earnings thereon is based on years of continuous service. A participant is 100% vested after six years of credited service.”
Who manages the Medico 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is T. Rowe Price. The plan administrator is Medico, LLC.
I left Medico. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Medico, LLC, (601) 709-1408) or the recordkeeper, T. Rowe Price. The Medico old 401(k) page lists the contacts from every plan filing. Find an old Medico 401(k)
Data from the public Form 5500 annual reports Medico filed with the U.S. Department of Labor (plan years 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Medico. Not financial advice. Report a correction · Methodology