Mvhs Inc. 401(k) Review & Grade
Mvhs, Inc. 401(k) Plan
Utica, NYHealth Care & Social Assistance3,802 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,426Employer $ per active participant
$3,933Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$333.1MNet plan assets, end of year
$73,945Average balance per account
Score breakdown
- Employer generosity37.9 / 5076th percentile for employer $ per participant
- Low cost7.6 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving9.3 / 1562th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score65 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 30th |
| Employee saving | 62th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Mvhs put in about $2,426 per active participant, more than the typical peer ($800). 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.
- Direct plan expenses (0.23% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $9,221,993 |
| Participant (employee) contributions | $14,952,245 |
| Other contributions (incl. rollovers in) | $2,522,896 |
| Administrative expenses paid from the plan | $609,257 |
| Contract administrator fees | $439,644 |
| Investment advisory & management fees | $149,258 |
| Benefits paid out | $40,180,715 |
| Net assets, start / end of year | $204.2M / $333.1M |
| Active participants, start / end of year | 3,823 / 3,780 |
| Participants with account balances | 4,505 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Fustcharles LLP |
Largest service providers (Schedule C)
| Lincoln National Corporation | $439,644 reported compensation |
| Hanys Benefit Services | $149,258 reported compensation |
| Fustcharles LLP | $20,355 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010073816NAL0007335857001, received 2025-10-10, EIN 16-1576637, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.