Plan Ledger DOL Form 5500 · updated monthly

Municipal Securities Rulemaking Board401(k)

MSRB 401(K) RETIREMENT PLAN · WASHINGTON, DC · plan year 2025

Reported admin expense ratio · 2025
0.26%

Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works

Municipal Securities Rulemaking Board reported $143,738 in plan administrative expenses for 2025: 0.26% of average plan assets, higher than ~75% of peers. Employer contributions averaged $15,778 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.

Across the 3 years on file its reported administrative ratio rose from 0.08% to 0.26%. The plan sits in the $50M–$250M size bracket, benchmarked here against 605 comparable plans and shown alongside other finance & insurance employers. By assets it is the 150th-largest of 618 plans among District of Columbia employers on file, and the 1,510th of 4,798 in finance & insurance. In 2025, employees put in $1.18 for every $1.00 the employer contributed; active participation has shrunk from 123 to 110 since 2022.

Plan summary
Net assets, end of year$57,451,965
Participants with balances168
Active participants110
Employer contributions$1,735,602
Employee contributions$2,041,225
Employer contribution per active participant$15,778
Average account balance$341,976
Benefits paid to participants$7,486,916
Plan auditUnmodified (clean) audit opinion
Plan history4
Yearassets · accounts · employer contribution
2025$57.5M · 168 accts · $1.7M emplr
2024$53.2M · 185 accts · $1.7M emplr
2023$42.1M · 185 accts · $1.6M emplr
2022$34.6M · 180 accts · $1.4M emplr
Administrative expenses, itemized · 2025
Recordkeeping & contract admin$143,738
Total administrative$143,738
The Municipal Securities Rulemaking Board 401(k) match · 2025
Employer contribution per active participant$15,778
Median for plans this size$4,093
2025$15,778 per active participant
2024$12,962 per active participant
2023$12,241 per active participant
2022$11,607 per active participant

Municipal Securities Rulemaking Board's 2025 employer contribution ran above the $4,093 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

What these fees cost you

Annual cost at the plan's reported 2025 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Service providers · 20255
PRINCIPAL LIFE INSURANCE COMPANY · Contract administrator · Loan processing$143,738
WELLS FARGO CLEARING SERVICES LLC · Other servicesindirect comp
WELLS FARGO ADVISORS INS AGENCY LLC · Other servicesindirect comp
MORNINGSTAR INVESTMENT MANAGEMENT L · Investment advisory (participants)indirect comp
WILSHIRE ADVISORS LLC · Investment advisory (plan)indirect comp

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Administrative cost history4
2025$143,738 · 0.26%
2024$123,910 · 0.26%
2023$105,398 · 0.28%
2022$30,553 · 0.08%
Same employer
Similar plansFinance & Insurance · District of Columbia
American Bankers Association DC$197.9M · 0.03%
Eig Management Company, LLC DC$25.3M · 0.03%
Independence Pet Group, Inc DC$18.6M · 0.52%

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Source: U.S. Department of Labor, Form 5500 series, EIN 521042433 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.