Community Home Care Referral Service, Inc. 401(k) Review & Grade
Community Home Care Referral Service, Inc. D/B/A Helping Hands Attendant Services 401(k) Plan · d/b/a Helping Hands Attendant Services 401(k) Plan
Brooklyn, NYHealth Care & Social Assistance3,768 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$20Employer $ per active participant
$118Employee $ saved per active participant
1.96%Direct admin cost, % of plan assets
$5.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.6 / 5013th percentile for employer $ per participant
- Low cost0.3 / 251th percentile for low admin cost vs. same-size plans
- Employee saving0.9 / 156th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score8 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 1th |
| Employee saving | 6th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,439 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Community Home Care Referral Service put in about $20 per active participant, below the typical peer ($800). 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 (1.96% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $75,739 |
| Participant (employee) contributions | $443,543 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $108,175 |
| Contract administrator fees | $96,175 |
| Investment advisory & management fees | $12,000 |
| Benefits paid out | $267,762 |
| Net assets, start / end of year | $5.1M / $5.9M |
| Active participants, start / end of year | 3,153 / 4,382 |
| Participants with account balances | 702 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Alan Goodman CPA PC |
Largest service providers (Schedule C)
| John Hancock Retirement Plan Servic | $96,175 reported compensation |
| Parkwood Associates, Inc. | $12,000 reported compensation |
| United Planners Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250917120651NAL0001051282001, received 2025-09-17, EIN 11-2558954, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.