Spring Care, Inc. 401(k) Review & Grade
Spring Care, Inc. 401(k) Plan
New York, NYInformation965 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,262Employer $ per active participant
$7,512Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$30.1MNet plan assets, end of year
$23,605Average balance per account
Score breakdown
- Employer generosity19.1 / 5038th percentile for employer $ per participant
- Low cost17.7 / 2571th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1541th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 38th |
| Lower admin cost | 71th |
| Employee saving | 41th |
| Peers that auto-enroll | 59% |
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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 ($937,981 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $194 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Spring Care put in about $2,262 per active participant, below the typical peer ($2,829). 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.
- 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.
- 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 | $2,182,896 |
| Participant (employee) contributions | $7,248,991 |
| Other contributions (incl. rollovers in) | $3,861,382 |
| Administrative expenses paid from the plan | $27,012 |
| Investment advisory & management fees | $18,568 |
| Benefits paid out | $3,904,835 |
| Net assets, start / end of year | $17.8M / $30.1M |
| Active participants, start / end of year | 860 / 1,070 |
| Participants with account balances | 1,276 |
| Auto-enrollment (feature code 2S) | Yes |
Largest service providers (Schedule C)
| Guideline, LLC | $24,177 reported compensation |
| Benefit Trust Company | $18,125 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251121220108NAL0003960691083, received 2025-11-21, EIN 81-2832914, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.