Home Caregivers Partnership LLC 401(k) Review & Grade
Canyon & Red Rock 401(k) Plan
Salt Lake City, UTHealth Care & Social Assistance1,174 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$175Employer $ per active participant
$1,130Employee $ saved per active participant
1.05%Direct admin cost, % of plan assets
$3.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.0 / 5020th percentile for employer $ per participant
- Low cost1.4 / 256th percentile for low admin cost vs. same-size plans
- Employee saving3.8 / 1525th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score15 / 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 | 20th |
| Lower admin cost | 6th |
| Employee saving | 25th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,518 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Home Caregivers Partnership put in about $175 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 (1.05% 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 | $205,083 |
| Participant (employee) contributions | $1,326,944 |
| Other contributions (incl. rollovers in) | $321,833 |
| Administrative expenses paid from the plan | $27,950 |
| Contract administrator fees | $27,950 |
| Benefits paid out | $239,775 |
| Net assets, start / end of year | $1.7M / $3.6M |
| Active participants, start / end of year | 1,105 / 1,244 |
| Participants with account balances | 363 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251011132822NAL0004777027002, received 2025-10-11, EIN 20-1216329, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.