Enhance Therapies 401(k) Review & Grade
Enhance Therapies 401(k) Plan
Lakewood, NJHealth Care & Social Assistance8,097 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$40Employer $ per active participant
$1,510Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$114.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity8.4 / 5017th percentile for employer $ per participant
- Low cost6.1 / 2524th percentile for low admin cost vs. same-size plans
- Employee saving5.2 / 1534th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score10 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 17th |
| Lower admin cost | 24th |
| Employee saving | 34th |
| Peers that auto-enroll | 38% |
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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 ($4,815,893 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $121,255 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Enhance Therapies put in about $40 per active participant, below the typical peer ($800). 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 (0.29% 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.
- 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 | $324,475 |
| Participant (employee) contributions | $12,224,884 |
| Other contributions (incl. rollovers in) | $4,934,585 |
| Administrative expenses paid from the plan | $294,658 |
| Investment advisory & management fees | $128,882 |
| Benefits paid out | $8,113,216 |
| Net assets, start / end of year | $91.8M / $114.7M |
| Active participants, start / end of year | 7,107 / 9,087 |
| Participants with account balances | 2,802 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | GGM Associates Inc |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $131,776 reported compensation |
| Synovus Trust Company, N.A. | $79,049 reported compensation |
| Cambridge Investment Research | $44,794 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260910143439NAL0005092544001, received 2026-09-10, EIN 22-3321058, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.