Sofha Management Services, Inc. 401(k) Review & Grade
Sofha Management Services, Inc. 401(k) Retirement Plan
Johnson City, TNHealth Care & Social Assistance1,011 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,643Employer $ per active participant
$5,742Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$157.2MNet plan assets, end of year
$120,749Average balance per account
Score breakdown
- Employer generosity47.3 / 5095th percentile for employer $ per participant
- Low cost16.6 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving12.9 / 1586th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score77 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 66th |
| Employee saving | 86th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $547 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sofha Management Services put in about $6,643 per active participant, more than the typical peer ($976). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $6,715,984 |
| Participant (employee) contributions | $5,805,364 |
| Other contributions (incl. rollovers in) | $917,068 |
| Administrative expenses paid from the plan | $202,971 |
| Investment advisory & management fees | $132,718 |
| Benefits paid out | $18,196,369 |
| Net assets, start / end of year | $144.2M / $157.2M |
| Active participants, start / end of year | 887 / 1,135 |
| Participants with account balances | 1,302 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Katz Sapper and Miller LLP |
Largest service providers (Schedule C)
| LPL Financial LLC | $132,718 reported compensation |
| Fidelity Investments Institutional | $55,474 reported compensation |
| Katz Sapper & Miller LLP | $15,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250917134429NAL0000692178001, received 2025-09-17, EIN 99-1088595, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.