Senior Lifestyle Corporation 401(k) Review & Grade
Senior Lifestyle Corporation 401(k) Retirement Plan
Chicago, ILHealth Care & Social Assistance5,082 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$80Employer $ per active participant
$710Employee $ saved per active participant
0.84%Direct admin cost, % of plan assets
$33.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.6 / 5021th percentile for employer $ per participant
- Low cost1.5 / 256th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 21th |
| Lower admin cost | 6th |
| Employee saving | 20th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Senior Lifestyle put in about $80 per active participant, below the typical peer ($800). 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 (0.84% 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.
- 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 | $408,781 |
| Participant (employee) contributions | $3,609,080 |
| Other contributions (incl. rollovers in) | $1,360,864 |
| Administrative expenses paid from the plan | $270,499 |
| Benefits paid out | $6,791,325 |
| Net assets, start / end of year | $30.9M / $33.2M |
| Active participants, start / end of year | 5,140 / 5,024 |
| Participants with account balances | 1,743 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cassell Plan Audits P.C. |
Largest service providers (Schedule C)
| Baker Tilly US, LLP | $52,032 reported compensation |
| Mma Securities, LLC | $32,790 reported compensation |
| Adp, Inc. | $9,049 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015183152NAL0010755522001, received 2025-10-15, EIN 36-3398105, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.