Family Wellness Program, LLC 401(k) Review & Grade
Family Wellness Program, LLC 401(k) Plan
Bronx, NYHealth Care & Social Assistance4,380 active participantsPlan year 2024
Estimate from the plan's Form 5500-SF filing · How we grade
$5Employer $ per active participant
$20Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$159,538Net plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity5.0 / 5010th percentile for employer $ per participant
- Low cost9.6 / 2538th percentile for low admin cost vs. same-size plans
- Employee saving0.2 / 151th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-5 pts1 issue reported on the filing
Total score10 / 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 | 10th |
| Lower admin cost | 38th |
| Employee saving | 1th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
What to do if you're in this plan
- Family Wellness Program put in about $5 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.
- 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 | $23,189 |
| Participant (employee) contributions | $86,610 |
| Other contributions (incl. rollovers in) | $1,382 |
| Administrative expenses paid from the plan | $181 |
| Benefits paid out | – |
| Net assets, start / end of year | $41,220 / $159,538 |
| Active participants, start / end of year | 3,630 / 5,129 |
| Participants with account balances | 21 |
| Auto-enrollment (feature code 2S) | Not reported |
Source: DOL EFAST2 Form 5500-SF filing, acknowledgment ID 20250909185822NAL0034092448001, received 2025-09-09, EIN 81-4410202, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.