Concordance Healthcare Solutions 401(k) Review & Grade
Concordance Healthcare Solutions 401(k) Retirement Plan
Tiffin, OHWholesale Trade874 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$648Employer $ per active participant
$2,913Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$45.2MNet plan assets, end of year
$60,699Average balance per account
Score breakdown
- Employer generosity5.9 / 5012th percentile for employer $ per participant
- Low cost7.6 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving3.2 / 1521th 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: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 12th |
| Lower admin cost | 30th |
| Employee saving | 21th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
Corrective distributions: the plan refunded $165,269 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Concordance Healthcare Solutions put in about $648 per active participant, below the typical peer ($1,792). 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 (0.40% 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 | $565,996 |
| Participant (employee) contributions | $2,546,060 |
| Other contributions (incl. rollovers in) | $447,016 |
| Administrative expenses paid from the plan | $174,928 |
| Investment advisory & management fees | $96,476 |
| Benefits paid out | $5,573,198 |
| Net assets, start / end of year | $42.3M / $45.2M |
| Active participants, start / end of year | 893 / 855 |
| Participants with account balances | 744 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $78,452 reported compensation |
| Moneta Group Investment Advisors LL | $46,660 reported compensation |
| Osaic Wealth Inc | $34,124 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014103317NAL0001226867001, received 2025-10-14, EIN 38-3986849, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.