First State Orthopaedics, P.A. 401(k) Review & Grade
First State Orthopaedics, P.A. 401(k) Profit Sharing Plan
Newark, DEHealth Care & Social Assistance536 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,937Employer $ per active participant
$5,030Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$78.3MNet plan assets, end of year
$119,608Average balance per account
Score breakdown
- Employer generosity43.7 / 5087th percentile for employer $ per participant
- Low cost15.1 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving11.9 / 1579th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score78 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 60th |
| Employee saving | 79th |
| Peers that auto-enroll | 36% |
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 $10,502 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- First State Orthopaedics, P.A. put in about $3,937 per active participant, more than the typical peer ($976). 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.
- 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 | $2,108,410 |
| Participant (employee) contributions | $2,693,306 |
| Other contributions (incl. rollovers in) | $560,780 |
| Administrative expenses paid from the plan | $121,802 |
| Investment advisory & management fees | $40,162 |
| Benefits paid out | $8,443,550 |
| Net assets, start / end of year | $68.8M / $78.3M |
| Active participants, start / end of year | 476 / 595 |
| Participants with account balances | 655 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Gunnip & Company LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $64,440 reported compensation |
| Global Retirement Partners LLC | $33,455 reported compensation |
| Gunnip & Company LLP | $17,200 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007133639NAL0004840337001, received 2025-10-07, EIN 51-0297303, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.