Oceans Acquisition, Inc. 401(k) Review & Grade
Oceans Healthcare 401(k) Plan
Plano, TXHealth Care & Social Assistance2,428 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3Employer $ per active participant
$2,180Employee $ saved per active participant
1.20%Direct admin cost, % of plan assets
$20.7MNet plan assets, end of year
$8,395Average balance per account
Score breakdown
- Employer generosity4.0 / 508th percentile for employer $ per participant
- Low cost1.1 / 254th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score19 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 8th |
| Lower admin cost | 4th |
| Employee saving | 44th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $5 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Oceans Acquisition put in about $3 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.
- Direct plan expenses (1.20% of assets) are well above similar-size plans (0.23%). 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 | $8,282 |
| Participant (employee) contributions | $5,293,072 |
| Other contributions (incl. rollovers in) | $707,560 |
| Administrative expenses paid from the plan | $226,732 |
| Contract administrator fees | $226,732 |
| Benefits paid out | $4,348,558 |
| Net assets, start / end of year | $17.1M / $20.7M |
| Active participants, start / end of year | 2,444 / 2,412 |
| Participants with account balances | 2,471 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Henry & Peters, PC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $226,731 reported compensation |
| Sageview Advisory Group, LLC | $32,242 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013153501NAL0003492850001, received 2025-10-13, EIN 46-1595657, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.