Ascend Wellness Holdings, LLC 401(k) Review & Grade
Ascend Wellness Holdings 401(k) Plan
New York, NYAgriculture, Forestry, Fishing & Hunting1,948 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$262Employer $ per active participant
$2,045Employee $ saved per active participant
1.97%Direct admin cost, % of plan assets
$8.7MNet plan assets, end of year
$2,719Average balance per account
Score breakdown
- Employer generosity8.5 / 5017th percentile for employer $ per participant
- Low cost0.3 / 251th percentile for low admin cost vs. same-size plans
- Employee saving7.7 / 1551th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score17 / 100 · Grade F
This plan vs. peers
Peers: Agriculture, Forestry, Fishing & Hunting plans with 500–2,499 active participants (118 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 17th |
| Lower admin cost | 1th |
| Employee saving | 51th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $45,323 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ascend Wellness Holdings put in about $262 per active participant, below the typical peer ($774). 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 (1.97% 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 | $509,731 |
| Participant (employee) contributions | $3,982,328 |
| Other contributions (incl. rollovers in) | $116,812 |
| Administrative expenses paid from the plan | $142,003 |
| Contract administrator fees | $142,003 |
| Benefits paid out | $2,254,888 |
| Net assets, start / end of year | $5.7M / $8.7M |
| Active participants, start / end of year | 1,896 / 1,999 |
| Participants with account balances | 3,212 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mgo CPA |
Largest service providers (Schedule C)
| PCS Retirement LLC | $142,003 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015070916NAL0008415762001, received 2025-10-15, EIN 83-0602006, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.