Healey Brothers, Inc. 401(k) Review & Grade
Healey Brothers, Inc. 401k Plan
Goshen, NYRetail Trade578 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,469Employer $ per active participant
$6,255Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$43.7MNet plan assets, end of year
$71,825Average balance per account
Score breakdown
- Employer generosity37.2 / 5074th percentile for employer $ per participant
- Low cost10.9 / 2544th percentile for low admin cost vs. same-size plans
- Employee saving13.9 / 1593th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 74th |
| Lower admin cost | 44th |
| Employee saving | 93th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $90,999 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Healey Brothers put in about $1,469 per active participant, more than the typical peer ($743). 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.
- 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 | $848,546 |
| Participant (employee) contributions | $3,612,429 |
| Other contributions (incl. rollovers in) | $388,637 |
| Administrative expenses paid from the plan | $114,001 |
| Investment advisory & management fees | $40,166 |
| Benefits paid out | $5,170,499 |
| Net assets, start / end of year | $38.9M / $43.7M |
| Active participants, start / end of year | 576 / 579 |
| Participants with account balances | 609 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RBT Cpas, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $61,835 reported compensation |
| Northwestern Mutual Wealth Mgmt Co | $36,415 reported compensation |
| RBT Cpas | $12,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730110253NAL0010017842001, received 2025-07-30, EIN 06-1554816, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.