North Florida Surgeons, P.A. 401(k) Review & Grade
North Florida Surgeons, P.A. Profit Sharing Plan
Jacksonville, FLHealth Care & Social Assistance778 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,901Employer $ per active participant
$4,874Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$86.9MNet plan assets, end of year
$79,317Average balance per account
Score breakdown
- Employer generosity46.4 / 5093th percentile for employer $ per participant
- Low cost22.2 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving11.6 / 1578th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score80 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 89th |
| Employee saving | 78th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,340 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- North Florida Surgeons, P.A. put in about $5,901 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.
- 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 | $4,587,749 |
| Participant (employee) contributions | $3,789,762 |
| Other contributions (incl. rollovers in) | $1,332,945 |
| Administrative expenses paid from the plan | $35,333 |
| Investment advisory & management fees | $27,233 |
| Benefits paid out | $3,239,353 |
| Net assets, start / end of year | $69.7M / $86.9M |
| Active participants, start / end of year | 792 / 763 |
| Participants with account balances | 1,096 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Assurance Dimensions |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $27,233 reported compensation |
| Empower Annuity Insurance Company O | $8,100 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010131452NAL0004641811001, received 2025-10-10, EIN 59-3366100, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.