Catholic Charities of the Diocese of Rochester, Inc. 401(k) Review & Grade
Catholic Charities of the Diocese of Rochester, Inc. 403(b) Plan
Rochester, NYOther Services1,538 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$865Employer $ per active participant
$1,390Employee $ saved per active participant
1.46%Direct admin cost, % of plan assets
$7.8MNet plan assets, end of year
$7,010Average balance per account
Score breakdown
- Employer generosity19.7 / 5039th percentile for employer $ per participant
- Low cost0.7 / 253th percentile for low admin cost vs. same-size plans
- Employee saving4.8 / 1532th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 3th |
| Employee saving | 32th |
| Peers that auto-enroll | 40% |
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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 ($26,723 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Catholic Charities of the Diocese of Rochester put in about $865 per active participant, below the typical peer ($1,257). 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 (1.46% 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 | $1,330,512 |
| Participant (employee) contributions | $2,136,442 |
| Other contributions (incl. rollovers in) | $563,444 |
| Administrative expenses paid from the plan | $83,890 |
| Contract administrator fees | $83,890 |
| Benefits paid out | $333,459 |
| Net assets, start / end of year | $3.7M / $7.8M |
| Active participants, start / end of year | 1,447 / 1,628 |
| Participants with account balances | 1,115 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bonadio & Co., LLP |
Largest service providers (Schedule C)
| Burke Group | $83,911 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015161931NAL0005104433001, received 2025-10-15, EIN 16-0743944, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.