Fallon Community Health Plan 401(k) Review & Grade
Fallon Community Health Plan, Inc. 401(k) Plan
Worcester, MAFinance & Insurance1,222 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,277Employer $ per active participant
$7,100Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$167.2MNet plan assets, end of year
$103,318Average balance per account
Score breakdown
- Employer generosity22.2 / 5044th percentile for employer $ per participant
- Low cost16.8 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving7.6 / 1551th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 67th |
| Employee saving | 51th |
| Peers that auto-enroll | 62% |
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
Corrective distributions: the plan refunded $259 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Fallon Community Health Plan put in about $3,277 per active participant, below the typical peer ($3,606). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $4,002,893 |
| Participant (employee) contributions | $8,673,099 |
| Other contributions (incl. rollovers in) | $1,448,270 |
| Administrative expenses paid from the plan | $204,325 |
| Investment advisory & management fees | $7,176 |
| Benefits paid out | $13,137,383 |
| Net assets, start / end of year | $148.9M / $167.2M |
| Active participants, start / end of year | 1,227 / 1,216 |
| Participants with account balances | 1,618 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Stowe & Degon LLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $197,149 reported compensation |
| Empower Advisory Group, LLC | $7,176 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010141703NAL0004694323001, received 2025-10-10, EIN 23-7442369, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.