Able Health Care Services, Inc. 401(k) Review & Grade
Able Health Care Services, Inc. 401(k) Plan
Merrick, NYHealth Care & Social Assistance1,043 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$42Employer $ per active participant
$444Employee $ saved per active participant
1.01%Direct admin cost, % of plan assets
$5.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity5.8 / 5012th percentile for employer $ per participant
- Low cost1.6 / 256th percentile for low admin cost vs. same-size plans
- Employee saving1.5 / 1510th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 6th |
| Employee saving | 10th |
| 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
- Able Health Care Services put in about $42 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.
- Direct plan expenses (1.01% of assets) are well above similar-size plans (0.23%). 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 | $43,454 |
| Participant (employee) contributions | $463,289 |
| Other contributions (incl. rollovers in) | $335,309 |
| Administrative expenses paid from the plan | $52,226 |
| Benefits paid out | $1,401,216 |
| Net assets, start / end of year | $5.2M / $5.1M |
| Active participants, start / end of year | 895 / 1,191 |
| Participants with account balances | 310 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | K.k.mehta CPA Associates PLLC |
Largest service providers (Schedule C)
| Adp, Inc. | $24,763 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $5,620 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251029104052NAL0000445427001, received 2025-10-29, EIN 56-2677223, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.