Health Carousel LLC 401(k) Review & Grade
Health Carousel LLC 401(k) Profit Sharing Plan
Cincinnati, OHAdministrative, Support & Staffing Services3,127 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,255Employer $ per active participant
$4,659Employee $ saved per active participant
0.37%Direct admin cost, % of plan assets
$80.0MNet plan assets, end of year
$27,247Average balance per account
Score breakdown
- Employer generosity37.9 / 5076th percentile for employer $ per participant
- Low cost4.4 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving12.5 / 1583th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 2,500–9,999 active participants (125 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 17th |
| Employee saving | 83th |
| Peers that auto-enroll | 22% |
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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
- Health Carousel put in about $1,255 per active participant, more than the typical peer ($342). 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 (0.37% 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.
- 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 | $3,923,120 |
| Participant (employee) contributions | $14,568,537 |
| Other contributions (incl. rollovers in) | $86,581 |
| Administrative expenses paid from the plan | $276,602 |
| Investment advisory & management fees | $34,006 |
| Benefits paid out | $12,204,074 |
| Net assets, start / end of year | $68.1M / $80.0M |
| Active participants, start / end of year | 3,339 / 2,915 |
| Participants with account balances | 2,937 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Barnes Dennig & Co. LTD. |
Largest service providers (Schedule C)
| Adp, Inc. | $242,597 reported compensation |
| Valmark Securities Inc. | $34,006 reported compensation |
| Mesirow Financial Investment Manage | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015095949NAL0008634722001, received 2025-10-15, EIN 20-1601546, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.