Charles T. Sitrin Health Care Center 401(k) Review & Grade
Sitrin 403b Plan
New Hartford, NYHealth Care & Social Assistance539 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$360Employer $ per active participant
$1,044Employee $ saved per active participant
0.71%Direct admin cost, % of plan assets
$15.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity14.1 / 5028th percentile for employer $ per participant
- Low cost3.1 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving3.4 / 1523th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score24 / 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 | 28th |
| Lower admin cost | 13th |
| Employee saving | 23th |
| Peers that auto-enroll | 36% |
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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Charles T. Sitrin Health Care Center put in about $360 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 (0.71% 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 | $194,160 |
| Participant (employee) contributions | $562,759 |
| Other contributions (incl. rollovers in) | $85,041 |
| Administrative expenses paid from the plan | $103,261 |
| Other admin expenses | $103,261 |
| Benefits paid out | $691,979 |
| Net assets, start / end of year | $13.8M / $15.3M |
| Active participants, start / end of year | 540 / 538 |
| Participants with account balances | 194 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Fustcharles LLP |
Largest service providers (Schedule C)
| American Trust Company | $57,832 reported compensation |
| Paradigm Consulting, Inc. | $34,949 reported compensation |
| Fust Charles Chambers, LLP | $10,480 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010150544NAL0008369777001, received 2025-10-10, EIN 22-3100745, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.