Allstar Home Care Agency 401(k) Review & Grade
Allstar Home Care Agency 401(k) Plan
Brooklyn, NYHealth Care & Social Assistance3,056 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$25Employer $ per active participant
$166Employee $ saved per active participant
1.41%Direct admin cost, % of plan assets
$2.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.2 / 5014th percentile for employer $ per participant
- Low cost0.6 / 252th percentile for low admin cost vs. same-size plans
- Employee saving1.3 / 158th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 14th |
| Lower admin cost | 2th |
| Employee saving | 8th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Allstar Home Care Agency put in about $25 per active participant, below the typical peer ($800). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (1.41% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $77,413 |
| Participant (employee) contributions | $507,651 |
| Other contributions (incl. rollovers in) | $60,740 |
| Administrative expenses paid from the plan | $32,842 |
| Contract administrator fees | $32,842 |
| Benefits paid out | $63,231 |
| Net assets, start / end of year | $1.9M / $2.7M |
| Active participants, start / end of year | 2,875 / 3,238 |
| Participants with account balances | 220 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Jimmy Yee |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $32,842 reported compensation |
| Equitable Network LLC | $4,945 reported compensation |
| Wilshire Advisors LLC | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006141905NAL0001919459001, received 2025-10-06, EIN 46-3446845, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.