Carle Holding Company, Inc. 401(k) Review & Grade
Carle Profit Sharing Plan
Urbana, ILHealth Care & Social Assistance2,018 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$989Employer $ per active participant
$2,194Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$329.6MNet plan assets, end of year
$137,663Average balance per account
Score breakdown
- Employer generosity25.2 / 5050th percentile for employer $ per participant
- Low cost19.4 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 77th |
| Employee saving | 44th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,229 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Carle Holding Company put in about $989 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.
- 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 | $1,996,545 |
| Participant (employee) contributions | $4,427,774 |
| Other contributions (incl. rollovers in) | $231,472 |
| Administrative expenses paid from the plan | $283,272 |
| Benefits paid out | $45,299,803 |
| Net assets, start / end of year | $327.1M / $329.6M |
| Active participants, start / end of year | 2,167 / 1,869 |
| Participants with account balances | 2,394 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | MH CPA PLLC |
Largest service providers (Schedule C)
| Charles Schwab Bank | $66,229 reported compensation |
| Cozad Asset Management Inc. | $62,081 reported compensation |
| Choreo LLC | $31,381 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260227105010NAL0000139283001, received 2026-02-27, EIN 37-1188284, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.