Fast Pace Medical Clinical, PLLC 401(k) Review & Grade
Fast Pace Medical Clinic, PLLC 401(k) Plan
Franklin, TNHealth Care & Social Assistance2,804 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$486Employer $ per active participant
$1,786Employee $ saved per active participant
0.95%Direct admin cost, % of plan assets
$19.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity21.5 / 5043th percentile for employer $ per participant
- Low cost1.2 / 255th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1541th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score19 / 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 | 43th |
| Lower admin cost | 5th |
| Employee saving | 41th |
| 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 ($186,555 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $65,085 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Fast Pace Medical Clinical, PLLC put in about $486 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 (0.95% 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 | $1,361,678 |
| Participant (employee) contributions | $5,007,974 |
| Other contributions (incl. rollovers in) | $552,568 |
| Administrative expenses paid from the plan | $156,068 |
| Investment advisory & management fees | $25,000 |
| Benefits paid out | $2,221,210 |
| Net assets, start / end of year | $13.2M / $19.7M |
| Active participants, start / end of year | 2,877 / 2,730 |
| Participants with account balances | 1,256 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Carr, Riggs & Ingram, LLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $131,068 reported compensation |
| Capital Strategies Investment Group | $25,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008104847NAL0003207107001, received 2025-10-08, EIN 27-0851352, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.