Ellie Family Services, Pllp 401(k) Review & Grade
Ellie Mental Health 401k Plan
Mendota Heights, MNHealth Care & Social Assistance510 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,054Employer $ per active participant
$3,999Employee $ saved per active participant
0.76%Direct admin cost, % of plan assets
$8.4MNet plan assets, end of year
$20,466Average balance per account
Score breakdown
- Employer generosity35.7 / 5071th percentile for employer $ per participant
- Low cost2.8 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving10.3 / 1568th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 71th |
| Lower admin cost | 11th |
| Employee saving | 68th |
| Peers that auto-enroll | 36% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($176 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $387 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ellie Family Services, Pllp put in about $2,054 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.
- Direct plan expenses (0.76% 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 | $1,048,588 |
| Participant (employee) contributions | $2,041,244 |
| Other contributions (incl. rollovers in) | $634,116 |
| Administrative expenses paid from the plan | $49,863 |
| Investment advisory & management fees | $20,428 |
| Benefits paid out | $789,326 |
| Net assets, start / end of year | $4.7M / $8.4M |
| Active participants, start / end of year | 547 / 474 |
| Participants with account balances | 412 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Boyum & Barenscheer Pllp |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $29,435 reported compensation |
| Mma Securities | $19,196 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007165751NAL0008584368001, received 2025-10-07, EIN 47-3503652, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.