Petvet Care Centers Management, LLC 401(k) Review & Grade
Petvet Care Centers Management, LLC Retirement Savings Plan
Westport, CTProfessional, Scientific & Technical Services10,010 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$121Employer $ per active participant
$2,135Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$153.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity5.8 / 5012th percentile for employer $ per participant
- Low cost2.5 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving2.4 / 1516th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score1 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 10,000+ active participants (70 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 10th |
| Employee saving | 16th |
| Peers that auto-enroll | 39% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($136,344 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $5,654,721 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Petvet Care Centers Management put in about $121 per active participant, below the typical peer ($2,932). 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 (0.29% of assets) are well above similar-size plans (0.09%). 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 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 | $1,210,377 |
| Participant (employee) contributions | $21,368,559 |
| Other contributions (incl. rollovers in) | $1,560,504 |
| Administrative expenses paid from the plan | $415,175 |
| Contract administrator fees | $143,834 |
| Investment advisory & management fees | $64,996 |
| Benefits paid out | $13,665,673 |
| Net assets, start / end of year | $129.3M / $153.9M |
| Active participants, start / end of year | 10,290 / 9,731 |
| Participants with account balances | 3,761 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pension Assurance |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $331,400 reported compensation |
| Brightworxx LLC | $143,834 reported compensation |
| Old Slip Registered Investment Advi | $64,996 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015105827NAL0008853538001, received 2025-10-15, EIN 45-4459242, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.