American Business Institute Co 401(k) Review & Grade
American Business Institute Co 401(k) Profit Sharing Plan & Trust
Flushing, NYHealth Care & Social Assistance11,314 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$29Employer $ per active participant
$58Employee $ saved per active participant
0.81%Direct admin cost, % of plan assets
$6.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity5.7 / 5011th percentile for employer $ per participant
- Low cost0.3 / 251th percentile for low admin cost vs. same-size plans
- Employee saving0.5 / 154th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score7 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 11th |
| Lower admin cost | 1th |
| Employee saving | 4th |
| Peers that auto-enroll | 52% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $29,011 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- American Business Institute put in about $29 per active participant, below the typical peer ($2,086). 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 (0.81% of assets) are well above similar-size plans (0.09%). 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 | $332,199 |
| Participant (employee) contributions | $659,283 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $76,000 |
| Contract administrator fees | $58,936 |
| Investment advisory & management fees | $16,204 |
| Benefits paid out | $8,820,773 |
| Net assets, start / end of year | $12.5M / $6.2M |
| Active participants, start / end of year | 11,946 / 10,683 |
| Participants with account balances | 1,307 |
| Auto-enrollment (feature code 2S) | Not reported |
Largest service providers (Schedule C)
| Paychex, Inc. | $52,505 reported compensation |
| LPL Financial | $16,196 reported compensation |
| Erisa Fiduciary Services, Inc. | $6,300 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251205125128NAL0003592833001, received 2025-12-05, EIN 20-3133101, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.