Plan Snapshot
- Plan Sponsor: The Merit Distribution Group, LLC
- Sponsor EIN: 452595304
- Sponsor Address: 1310 UNION ST, SPARTANBURG, SC, 293023342
- Plan Type: 401(k)
- Total Participants: 328
- Total Assets: $26.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 328 | $26.8M | $577,924 | $1.6M |
| 2023 | 401 | $27.4M | $660,011 | $2.1M |
| 2022 | 568 | $25.3M | $773,660 | $2.2M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $109,013 | — | $109,013 |
| CREATIVE PLANNING, INC. | INVESTMENT ADVISORY | — | $49,432 | $49,432 |
| ELLIOTT GROUP CPAS, PLLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CREATIVE PLANNING, INC. — INVESTMENT ADVISORY
- ELLIOTT GROUP CPAS, PLLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $158,445
- Estimated Expense Ratio: 0.591% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $109,014 | — | $109,014 | — | — |
| 2023 | $113,902 | — | $113,902 | — | — |
| 2022 | $121,184 | — | $121,184 | — | — |