Essen Medical Associates, P.C. 401(k) Review & Grade
Essen Medical Associates, PC 401(k) Plan and Trust
Hartsdale, NYHealth Care & Social Assistance1,364 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$283Employer $ per active participant
$2,277Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$21.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity12.6 / 5025th percentile for employer $ per participant
- Low cost20.9 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving6.8 / 1545th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score40 / 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 | 25th |
| Lower admin cost | 84th |
| Employee saving | 45th |
| 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
Corrective distributions: the plan refunded $2,163 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Essen Medical Associates put in about $283 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 | $386,124 |
| Participant (employee) contributions | $3,106,095 |
| Other contributions (incl. rollovers in) | $173,350 |
| Administrative expenses paid from the plan | $11,554 |
| Contract administrator fees | $1,200 |
| Investment advisory & management fees | $3,148 |
| Other admin expenses | $2,980 |
| Benefits paid out | $661,583 |
| Net assets, start / end of year | $15.7M / $21.5M |
| Active participants, start / end of year | 1,248 / 1,480 |
| Participants with account balances | 339 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Macias, Gini & O'connell LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $11,148 reported compensation |
| Fidelity Investments Instit. Operat | $5,426 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924062822NAL0002869907001, received 2025-09-24, EIN 58-2501863, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.