Riccobene Central Services, Inc 401(k) Review & Grade
RCS 401(k) Retirement Savings Plan
Cary, NCHealth Care & Social Assistance1,148 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$300Employer $ per active participant
$2,339Employee $ saved per active participant
0.55%Direct admin cost, % of plan assets
$13.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity13.1 / 5026th percentile for employer $ per participant
- Low cost5.0 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving7.0 / 1547th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score25 / 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 | 26th |
| Lower admin cost | 20th |
| Employee saving | 47th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $259,001 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Riccobene Central Services put in about $300 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 (0.55% 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.
- 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 | $345,118 |
| Participant (employee) contributions | $2,686,719 |
| Other contributions (incl. rollovers in) | $529,122 |
| Administrative expenses paid from the plan | $64,484 |
| Benefits paid out | $1,181,932 |
| Net assets, start / end of year | $9.9M / $13.5M |
| Active participants, start / end of year | 959 / 1,338 |
| Participants with account balances | 493 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Elliott Davis PLLC |
Largest service providers (Schedule C)
| Mma Securities LLC | $39,428 reported compensation |
| Empower Annuity Company of America | $17,600 reported compensation |
| Qrps, Inc | $16,489 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006094701NAL0001764995001, received 2025-10-06, EIN 20-3804359, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.