Hasc Center Inc. 401(k) Review & Grade
Hasc Center 401(k) Savings Plan
Brooklyn, NYHealth Care & Social Assistance1,925 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$105Employer $ per active participant
$496Employee $ saved per active participant
0.76%Direct admin cost, % of plan assets
$14.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.7 / 5015th percentile for employer $ per participant
- Low cost2.8 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving1.7 / 1511th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 11th |
| Employee saving | 11th |
| 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
- Hasc Center put in about $105 per active participant, below the typical peer ($976). 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 (0.76% 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 | $202,271 |
| Participant (employee) contributions | $955,494 |
| Other contributions (incl. rollovers in) | $6,461 |
| Administrative expenses paid from the plan | $98,862 |
| Contract administrator fees | $98,862 |
| Benefits paid out | $420,833 |
| Net assets, start / end of year | $12.0M / $14.1M |
| Active participants, start / end of year | 1,872 / 1,978 |
| Participants with account balances | 182 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Fasten Halberstam LLP |
Largest service providers (Schedule C)
| Principal Life Ins Co | $98,141 reported compensation |
| S B H U Life Agency | $19,591 reported compensation |
| Associated Pension Consultants | $11,483 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929111719NAL0015097411001, received 2025-09-29, EIN 11-2630071, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.