Ebenezer Society 401(k) Review & Grade
Ebenezer Society 401(k) Profit-Sharing Plan
Edina, MNHealth Care & Social Assistance4,686 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,264Employer $ per active participant
$2,232Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$64.4MNet plan assets, end of year
$14,322Average balance per account
Score breakdown
- Employer generosity28.6 / 5057th percentile for employer $ per participant
- Low cost6.9 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving6.8 / 1545th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 28th |
| Employee saving | 45th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $645 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ebenezer Society put in about $1,264 per active participant, more than the typical peer ($800). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (0.25% of assets) are well above similar-size plans (0.12%). 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 | $5,924,471 |
| Participant (employee) contributions | $10,460,050 |
| Other contributions (incl. rollovers in) | $1,214,625 |
| Administrative expenses paid from the plan | $140,171 |
| Investment advisory & management fees | $11,825 |
| Benefits paid out | $7,444,453 |
| Net assets, start / end of year | $47.4M / $64.4M |
| Active participants, start / end of year | 4,501 / 4,870 |
| Participants with account balances | 4,497 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $129,177 reported compensation |
| Strategic Advisors, Inc. | $11,825 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250814152034NAL0028198898001, received 2025-08-14, EIN 41-0706141, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.