Howard Brown Health Center 401(k) Review & Grade
Howard Brown 401(k) Plan
Chicago, ILHealth Care & Social Assistance528 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,085Employer $ per active participant
$4,164Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$20.8MNet plan assets, end of year
$31,418Average balance per account
Score breakdown
- Employer generosity41.7 / 5083th percentile for employer $ per participant
- Low cost16.5 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving10.5 / 1570th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-20 pts2 issues reported on the filing
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 66th |
| Employee saving | 70th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($108 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Auditor concern: the independent auditor gave a qualified or adverse opinion.
What to do if you're in this plan
- Howard Brown Health Center put in about $3,085 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.
- 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $1,630,315 |
| Participant (employee) contributions | $2,200,460 |
| Other contributions (incl. rollovers in) | $342,731 |
| Administrative expenses paid from the plan | $26,046 |
| Contract administrator fees | $26,046 |
| Benefits paid out | $3,103,007 |
| Net assets, start / end of year | $17.6M / $20.8M |
| Active participants, start / end of year | 568 / 489 |
| Participants with account balances | 663 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| Ameriprise Financial Services Inc | $44,922 reported compensation |
| Principal Life Insurance Company | $26,045 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730134838NAL0001972355001, received 2025-07-30, EIN 36-2894128, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.