Cassia 401(k) Review & Grade
Cassia 401(k) Retirement Plan
Edina, MNHealth Care & Social Assistance914 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$206Employer $ per active participant
$700Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$7.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.8 / 5022th percentile for employer $ per participant
- Low cost16.0 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving2.4 / 1516th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 22th |
| Lower admin cost | 64th |
| Employee saving | 16th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $24,571 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Cassia put in about $206 per active participant, below the typical peer ($976). 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.
- 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 | $188,174 |
| Participant (employee) contributions | $640,006 |
| Other contributions (incl. rollovers in) | $485,181 |
| Administrative expenses paid from the plan | $9,207 |
| Investment advisory & management fees | $2,812 |
| Benefits paid out | $561,502 |
| Net assets, start / end of year | $5.6M / $7.0M |
| Active participants, start / end of year | 944 / 885 |
| Participants with account balances | 263 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $6,395 reported compensation |
| Charles Schwab & Co, Inc | $0 reported compensation |
| National Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250904095549NAL0016165681001, received 2025-09-04, EIN 83-1758728, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.