Better Health Group Services, Inc. 401(k) Review & Grade
Better Health Retirement Plan
Tampa, FLHealth Care & Social Assistance1,020 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,484Employer $ per active participant
$3,257Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$29.4MNet plan assets, end of year
$44,237Average balance per account
Score breakdown
- Employer generosity30.7 / 5061th percentile for employer $ per participant
- Low cost7.5 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving8.9 / 1559th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 30th |
| Employee saving | 59th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($767,760 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $66,986 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Better Health Group Services put in about $1,484 per active participant, more than the typical peer ($976). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (0.40% of assets) are well above similar-size plans (0.23%). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,512,895 |
| Participant (employee) contributions | $3,320,708 |
| Other contributions (incl. rollovers in) | $3,431,078 |
| Administrative expenses paid from the plan | $100,293 |
| Contract administrator fees | $53,154 |
| Investment advisory & management fees | $41,399 |
| Benefits paid out | $2,135,206 |
| Net assets, start / end of year | $20.4M / $29.4M |
| Active participants, start / end of year | 1,034 / 1,005 |
| Participants with account balances | 664 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Dgperry, PLLC |
Largest service providers (Schedule C)
| Ameritas Life Insurance Corp | $53,154 reported compensation |
| Invst | $41,399 reported compensation |
| Charles Schwab Bank | $5,740 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013134245NAL0003043202001, received 2025-10-13, EIN 87-3709729, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.