Salisbury House, LLC 401(k) Review & Grade
New Story Retirement Plan
Baltimore, MDEducational Services2,850 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,230Employer $ per active participant
$2,249Employee $ saved per active participant
0.37%Direct admin cost, % of plan assets
$62.9MNet plan assets, end of year
$17,122Average balance per account
Score breakdown
- Employer generosity27.3 / 5055th percentile for employer $ per participant
- Low cost4.4 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving3.6 / 1524th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Educational Services plans with 2,500–9,999 active participants (34 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 18th |
| Employee saving | 24th |
| Peers that auto-enroll | 65% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($199,807 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $688 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Salisbury House put in about $1,230 per active participant, more than the typical peer ($1,155). 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 (0.37% 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.
- 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 | $3,504,688 |
| Participant (employee) contributions | $6,408,364 |
| Other contributions (incl. rollovers in) | $1,669,379 |
| Administrative expenses paid from the plan | $200,546 |
| Investment advisory & management fees | $54,487 |
| Benefits paid out | $6,897,018 |
| Net assets, start / end of year | $45.3M / $62.9M |
| Active participants, start / end of year | 2,742 / 2,958 |
| Participants with account balances | 3,671 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Gorfine,schiller&gardyn |
Largest service providers (Schedule C)
| Adp, Inc. | $146,059 reported compensation |
| RBC | $54,487 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015140557NAL0002418147001, received 2025-10-15, EIN 52-2085789, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.