401(k) · DOL Form 5500 · 2024

Merchants Financial Group, Inc. 401(k) Plan

Data updated 2026-08-25

$65M
Total assets Below avg plan size
429
Participants Below avg headcount
87th
Percentile by assets National rank
$151,356
Avg per participant Above 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

$65M in assets, 429 participants

Merchants Financial Group, Inc.'s Merchants Financial Group, Inc. 401(k) Savings Plan reported $65M in total assets and 429 participants in its 2024 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.

  • #807 in Management of Enterprises (1,133 peers)

Coverage in Minnesota

Merchants Financial Group, Inc. 401(k) Savings Plan covers 429 participants in Minnesota, about 38% of the average Minnesota filer (state average ~1,126 per filing). Assets: $65M.

#807
in Management of Enterprises (1,133 peers)
+8.1%
assets growth YoY
0.7×
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 2024 · DOL Form 5500

$64,931,617 Top 13% higher than 87% of 123,620 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 2024

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

Plan-year 2024 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 (429 participants).

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Merchants Financial Group, Inc. 401(k) Savings Plan reported net income fell from $8M in the plan year 2023 filing to $3M in the plan year 2024 filing.
  • Merchants Financial Group, Inc. 401(k) Savings Plan end-of-year assets rose from $60M in the plan year 2023 filing to $65M in the plan year 2024 filing.
  • Merchants Financial Group, Inc. 401(k) Savings Plan reported participants fell from 451 in the plan year 2023 filing to 429 in the plan year 2024 filing.

See the national 2023→2024 release diff →

Form 5500 schedule snapshot

Filing strip 411504721 · Merchants Financial Group, Inc. PY 2024 · 401(k)

Merchants Financial Group, Inc. 401(k) Savings Plan · $65M · 429 · 87th

  • SCH $65M
  • EBSA 429
  • PART 87th
  • TYPE 401(k)
  • NET near Madison Emergency Physicians, S.C. Profit Sharing Plan
  • BOOK ind #807

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

Riskonnect, Inc. 401(k) Profit Sharing PlanRiskonnect, Inc. 401(k) Prof…$65MMajesco 401(k) Plan$65MMerchants Financial Group, Inc. 401(k) Savings PlanMerchants Financial Group, I…$65MMadison Emergency Physicians, S.C. Profit Sharing PlanMadison Emergency Physicians…$65MUrban Health Plan, Inc. 401(k) PlanUrban Health Plan, Inc. 401(…$65M
End-of-year total assets ($M) among Merchants Financial Group, Inc. 401(k) Savings Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2024.

Minnesota filing particulars

Total Assets (Beginning of Year)$60M
Net Assets (End of Year)$65M
Net Income$3M
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 -20020406080 Total assets ($B) Participants Merchants Financial Group, Inc. 401(k) Savings Plan, Total assets ($B): 0.064931617 · Participants: 429Merchants Financial Group, Inc. 401(k) Savings PlanWells Fargo & Company 401(k) Plan, Total assets ($B): 57.886997456 · Participants: 179076Wells Fargo & Company 401(k) PlanUnitedhealth Group 401(k) Savings Plan, Total assets ($B): 26.618762181 · Participants: 205460Unitedhealth Group 401(k) Savings PlanTarget Corporation 401(k) Plan, Total assets ($B): 14.419645154 · Participants: 409649Target Corporation 401(k) PlanMedtronic Savings and Investment Plan, Total assets ($B): 13.719378 · Participants: 38480Medtronic Savings and Investment PlanU.S. Bank 401(k) Savings Plan, Total assets ($B): 11.442089862 · Participants: 73109U.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 Madison Emergency Physicians, S.C. Profit Sharing Plan in WI ($65M); by covered participants it is Nederman Holding USA, Inc. 401(k) Plan in NC (429 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($65M here).

Similar participant headcount

Nearest other-state filings by covered participants (429 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. 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 2024? ▼
Merchants Financial Group, Inc. 401(k) Savings Plan grew at a solid clip - up 8.1% during 2024, from $60M to $65M. Reported net income was $3M.
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 123,622 plans that reported assets for plan year 2024 (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 Madison Emergency Physicians, S.C. Profit Sharing Plan in WI ($65M, 119 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 Nederman Holding USA, Inc. 401(k) Plan in NC (429 participants, N/A in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

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.