Fortec Medical, Inc. 401(k) Review & Grade
Fortec Medical, Inc. 401(k) Profit Sharing
Hudson, OHHealth Care & Social Assistance724 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,918Employer $ per active participant
$5,737Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$59.3MNet plan assets, end of year
$66,979Average balance per account
Score breakdown
- Employer generosity43.7 / 5087th percentile for employer $ per participant
- Low cost19.5 / 2578th percentile for low admin cost vs. same-size plans
- Employee saving12.9 / 1586th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score76 / 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 | 78th |
| Employee saving | 86th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Fortec Medical put in about $3,918 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.
- 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 | $2,836,534 |
| Participant (employee) contributions | $4,153,361 |
| Other contributions (incl. rollovers in) | $186,235 |
| Administrative expenses paid from the plan | $45,282 |
| Contract administrator fees | $26,800 |
| Investment advisory & management fees | $13,133 |
| Other admin expenses | $5,349 |
| Benefits paid out | $3,831,976 |
| Net assets, start / end of year | $48.5M / $59.3M |
| Active participants, start / end of year | 638 / 810 |
| Participants with account balances | 886 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | D'amico Wawrin & Company Cpas, LLC |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $45,282 reported compensation |
| Voya Retirement Advisors, LLC | $13,060 reported compensation |
| Equitable Advisors LLC | $9,315 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260327075246NAL0009461648001, received 2026-03-27, EIN 34-1662721, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.