401(k) · DOL Form 5500 · 2023

Merchants Financial Group, Inc. 401(k) Plan

Data updated 2026-08-25

$60M
Total assets Below avg plan size
451
Participants Below avg headcount
87th
Percentile by assets National rank
$133,200
Avg per participant Near avg balance/head
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Official DOL plan name: Merchants Financial Group, Inc. 401(k) Savings Plan · Sponsored by Merchants Financial Group, Inc. · Minnesota · Management of Enterprises

$60M in assets, 451 participants

Merchants Financial Group, Inc.'s Merchants Financial Group, Inc. 401(k) Savings Plan reported $60M in total assets and 451 participants in its 2023 DOL Form 5500 filing, ranking in the 87th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #797 in Management of Enterprises (1,137 peers)

Coverage in Minnesota

Merchants Financial Group, Inc. 401(k) Savings Plan covers 451 participants in Minnesota, about 40% of the average Minnesota filer (state average ~1,126 per filing). Assets: $60M.

#797
in Management of Enterprises (1,137 peers)
+17.4%
assets growth YoY
0.6×
vs typical plan assets (national mean)

Merchants Financial Group, Inc. 401(k) Savings Plan's outsized position by total assets

Merchants Financial Group, Inc. 401(k) Savings Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$60,073,091 Top 13% higher than 87% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Merchants Financial Group, Inc. 401(k) Savings Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Merchants Financial Group, Inc. 401(k) Savings Plan sits mid-pack in the medium band (451 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Merchants Financial Group, Inc. 401(k) Savings Plan reported net income rose from -$14M in the plan year 2022 filing to $8M in the plan year 2023 filing.
  • Merchants Financial Group, Inc. 401(k) Savings Plan end-of-year assets rose from $51M in the plan year 2022 filing to $60M in the plan year 2023 filing.

See the national 2022→2023 release diff →

Published 5500 schedule card

Filing strip 411504721 · Merchants Financial Group, Inc. PY 2023 · 401(k)

Merchants Financial Group, Inc. 401(k) Savings Plan · $60M · 451 · 87th

  • IND $60M
  • IND 451
  • IND 87th
  • IND 401(k)
  • IND near Mti 401(k) Plan
  • IND ind #797

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Management of Enterprises retirement plans → · Plans in Minnesota →

Merchants Financial Group, Inc. 401(k) Savings Plan in the asset neighbourhood

Ready Pac Foods, Inc. 401(k) Retirement Savings PlanReady Pac Foods, Inc. 401(k)…$60MFranklin Energy and Am Conservation 401(k) PlanFranklin Energy and Am Conse…$60MMti 401(k) Plan$60MMerchants Financial Group, Inc. 401(k) Savings PlanMerchants Financial Group, I…$60MPirelli Tire Savings Plan$60M
End-of-year total assets ($M) among Merchants Financial Group, Inc. 401(k) Savings Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Minnesota filing particulars

Total Assets (Beginning of Year)$51M
Net Assets (End of Year)$60M
Net Income$8M
Employer EIN411504721
Plan Effective Date1987-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Merchants Financial Group, Inc.)

Sponsor-wide plan assets over time

All Merchants Financial Group, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$112M 9.854932183648703% vs 2022
2024 filing year
$100M$105M$110M$115M 202220232024 $102M $112M ▲ +9.9%
Year Plans Participants Total Assets
2022 2 875 $102M
2023 2 873 $105M
2024 2 833 $112M

Nearby 401(k) Plans in Minnesota

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Merchants Financial Group, Inc. 401(k) Savings Plan vs. nearby 401(k) plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -1000000100000200000300000400000500000 -50510152025 Total assets ($B) Participants Merchants Financial Group, Inc. 401(k) Savings Plan, Total assets ($B): 0.060073091 · Participants: 451Merchants Financial Group, Inc. 401(k) Savings PlanUnitedhealth Group 401(k) Savings Plan, Total assets ($B): 22.432100178 · Participants: 198972Unitedhealth Group 401(k) Savings PlanTarget Corporation 401(k) Plan, Total assets ($B): 13.008265857 · Participants: 432617Target Corporation 401(k) PlanMedtronic Savings and Investment Plan, Total assets ($B): 12.931979 · Participants: 44342Medtronic Savings and Investment Plan3M Voluntary Investment Plan and Employee Stock Ownership Plan, Total assets ($B): 12.04661588 · Participants: 360493M Voluntary Investment Plan and Employee Stock Ownership PlanU.S. Bank 401(k) Savings Plan, Total assets ($B): 10.271161911 · Participants: 75272U.S. Bank 401(k) Savings Plan
Merchants Financial Group, Inc. 401(k) Savings Plan vs. nearby 401(k) plans in Minnesota, assets vs. participants
Compare Merchants Financial Group, Inc. 401(k) Savings Plan side-by-side with 3 peers →

Merchants Financial Group, Inc. 401(k) Savings Plan's out-of-state 401(k) peers by assets and headcount

Outside Minnesota, the nearest 401(k) by assets is Mti 401(k) Plan in IN ($60M); by covered participants it is Phoenix 401(k) Plan in TX (451 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($60M here).

Similar participant headcount

Nearest other-state filings by covered participants (451 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Merchants Financial Group, Inc. 401(k) Savings Plan assets move in 2023? ▼
Merchants Financial Group, Inc. 401(k) Savings Plan grew sharply - up 17.4% during 2023, from $51M to $60M. Reported net income was $8M.
How have Merchants Financial Group, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Merchants Financial Group, Inc.'s sponsor-wide assets grew 9.9%, from $102M to $112M.
Where does Merchants Financial Group, Inc. 401(k) Savings Plan rank by assets among Form 5500 filers? ▼
Merchants Financial Group, Inc. 401(k) Savings Plan ranks in the 87th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top quartile of all filed plans by assets).
Which 401(k) plans are similar in size to Merchants Financial Group, Inc. 401(k) Savings Plan? ▼
Among 401(k) plans in other states, the closest by assets is Mti 401(k) Plan in IN ($60M, 593 participants).
Which 401(k) plans cover a similar participant headcount to Merchants Financial Group, Inc. 401(k) Savings Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Phoenix 401(k) Plan in TX (451 participants, $14M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 411504721.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.