Care One Management, LLC 401(k) Review & Grade
Care Solutions 401(k) Plan
Fort Lee, NJRetail Trade978 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$378Employer $ per active participant
$3,779Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$39.4MNet plan assets, end of year
$29,997Average balance per account
Score breakdown
- Employer generosity14.3 / 5029th percentile for employer $ per participant
- Low cost9.9 / 2540th percentile for low admin cost vs. same-size plans
- Employee saving9.3 / 1562th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 29th |
| Lower admin cost | 40th |
| Employee saving | 62th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,944 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Care One Management put in about $378 per active participant, below the typical peer ($743). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $369,317 |
| Participant (employee) contributions | $3,696,214 |
| Other contributions (incl. rollovers in) | $483,266 |
| Administrative expenses paid from the plan | $115,988 |
| Investment advisory & management fees | $37,296 |
| Benefits paid out | $5,579,129 |
| Net assets, start / end of year | $36.1M / $39.4M |
| Active participants, start / end of year | 1,023 / 933 |
| Participants with account balances | 1,312 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sax LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $78,692 reported compensation |
| Morgan Stanley | $37,296 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014103016NAL0002628849001, received 2025-10-14, EIN 51-0451012, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.