Ciena Healthcare Management, Inc. 401(k) Review & Grade
Ciena Healthcare Management, Inc. 401(k) Plan
Southfield, MIHealth Care & Social Assistance16,212 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$331Employer $ per active participant
$661Employee $ saved per active participant
0.67%Direct admin cost, % of plan assets
$125.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity13.2 / 5026th percentile for employer $ per participant
- Low cost0.5 / 252th percentile for low admin cost vs. same-size plans
- Employee saving2.0 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score6 / 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 | 26th |
| Lower admin cost | 2th |
| Employee saving | 13th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($3,284,642 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $6,019 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ciena Healthcare Management put in about $331 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 (0.67% 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $5,364,089 |
| Participant (employee) contributions | $10,722,417 |
| Other contributions (incl. rollovers in) | $579,982 |
| Administrative expenses paid from the plan | $795,109 |
| Investment advisory & management fees | $108,192 |
| Other admin expenses | $313,722 |
| Benefits paid out | $18,054,194 |
| Net assets, start / end of year | $113.3M / $125.8M |
| Active participants, start / end of year | 13,967 / 18,456 |
| Participants with account balances | 3,401 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| North American Pension Services LLC | $181,748 reported compensation |
| Usi Consulting Group | $132,000 reported compensation |
| Gregory J Schwartz & Co., Inc | $55,287 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260413122116NAL0010368227001, received 2026-04-13, EIN 38-3439639, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.