Granite Bay Care, Inc. 401(k) Review & Grade
GBC 401(k) Plan
Concord, NHHealth Care & Social Assistance518 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,137Employer $ per active participant
$2,405Employee $ saved per active participant
1.27%Direct admin cost, % of plan assets
$6.8MNet plan assets, end of year
$23,635Average balance per account
Score breakdown
- Employer generosity26.8 / 5054th percentile for employer $ per participant
- Low cost1.0 / 254th percentile for low admin cost vs. same-size plans
- Employee saving7.2 / 1548th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 4th |
| Employee saving | 48th |
| 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
- Granite Bay Care put in about $1,137 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.
- Direct plan expenses (1.27% of assets) are well above similar-size plans (0.23%). 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.
- 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 | $589,598 |
| Participant (employee) contributions | $1,247,249 |
| Other contributions (incl. rollovers in) | $2,624 |
| Administrative expenses paid from the plan | $75,657 |
| Investment advisory & management fees | $57,909 |
| Benefits paid out | $802,697 |
| Net assets, start / end of year | $5.2M / $6.8M |
| Active participants, start / end of year | 502 / 535 |
| Participants with account balances | 286 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Boivin & Associates Cpas PLLC |
Largest service providers (Schedule C)
| Adp, Inc. | $26,564 reported compensation |
| Commonwealth Equity Services, Inc. | $23,648 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009053621NAL0010376304001, received 2025-10-09, EIN 11-3734348, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.