J.M. Murray Center, Inc. 401(k) Review & Grade
J.M. Murray Center, Inc. Pension Plan
Cortland, NYHealth Care & Social Assistance520 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$771Employer $ per active participant
$1,202Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$9.9MNet plan assets, end of year
$15,681Average balance per account
Score breakdown
- Employer generosity22.2 / 5044th percentile for employer $ per participant
- Low cost9.7 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1527th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score43 / 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 | 44th |
| Lower admin cost | 39th |
| Employee saving | 27th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,281 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- J.M. Murray Center put in about $771 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $401,042 |
| Participant (employee) contributions | $624,935 |
| Other contributions (incl. rollovers in) | $30,913 |
| Administrative expenses paid from the plan | $30,529 |
| Contract administrator fees | $30,529 |
| Benefits paid out | $1,835,983 |
| Net assets, start / end of year | $9.5M / $9.9M |
| Active participants, start / end of year | 486 / 554 |
| Participants with account balances | 632 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bonadio & Co., LLP |
Largest service providers (Schedule C)
| Lincoln National Corporation | $30,529 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001113109NAL0017742259001, received 2025-10-01, EIN 16-0919050, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.