Continuum of Care Inc 401(k) Review & Grade
Continuum of Care Inc 401(k) Profit Sharing Plan & Trust
New Haven, CTProfessional, Scientific & Technical Services839 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,526Employer $ per active participant
$2,131Employee $ saved per active participant
0.56%Direct admin cost, % of plan assets
$18.0MNet plan assets, end of year
$15,508Average balance per account
Score breakdown
- Employer generosity21.0 / 5042th percentile for employer $ per participant
- Low cost4.9 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving1.6 / 1511th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 42th |
| Lower admin cost | 20th |
| Employee saving | 11th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $18,410 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Continuum of Care put in about $2,526 per active participant, below the typical peer ($3,082). 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 (0.56% 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 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 | $2,119,567 |
| Participant (employee) contributions | $1,787,985 |
| Other contributions (incl. rollovers in) | $44,533 |
| Administrative expenses paid from the plan | $91,070 |
| Contract administrator fees | $52,463 |
| Investment advisory & management fees | $37,747 |
| Benefits paid out | $2,405,678 |
| Net assets, start / end of year | $14.4M / $18.0M |
| Active participants, start / end of year | 830 / 848 |
| Participants with account balances | 1,162 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Paychex, Inc. | $52,723 reported compensation |
| MML Investors Services, LLC | $37,747 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015143115NAL0002571923001, received 2025-10-15, EIN 06-0836524, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.