Springpoint Senior Living, Inc. 401(k) Review & Grade
Springpoint Senior Living, Inc. 401(k) Plan
Wall Township, NJHealth Care & Social Assistance1,726 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$833Employer $ per active participant
$2,633Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$82.5MNet plan assets, end of year
$68,722Average balance per account
Score breakdown
- Employer generosity23.2 / 5046th percentile for employer $ per participant
- Low cost14.6 / 2559th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 59th |
| Employee saving | 52th |
| Peers that auto-enroll | 36% |
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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
- Springpoint Senior Living put in about $833 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.
- 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 | $1,436,762 |
| Participant (employee) contributions | $4,542,869 |
| Other contributions (incl. rollovers in) | $918,703 |
| Administrative expenses paid from the plan | $138,368 |
| Contract administrator fees | $56,160 |
| Investment advisory & management fees | $863 |
| Other admin expenses | $3,978 |
| Benefits paid out | $7,113,854 |
| Net assets, start / end of year | $74.8M / $82.5M |
| Active participants, start / end of year | 1,664 / 1,787 |
| Participants with account balances | 1,200 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $71,965 reported compensation |
| DM Dipiero Famtr Fbo DM Dipiero III | $39,762 reported compensation |
| Francis W Palmieri PC DBA Palmieri | $13,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250826131032NAL0008738289001, received 2025-08-26, EIN 31-1480524, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.