Homecare Partners Management LLC 401(k) Review & Grade
Concierge Home Care 401(k) Plan
Jacksonville, FLHealth Care & Social Assistance1,094 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$310Employer $ per active participant
$2,785Employee $ saved per active participant
0.46%Direct admin cost, % of plan assets
$18.5MNet plan assets, end of year
$30,787Average balance per account
Score breakdown
- Employer generosity13.4 / 5027th percentile for employer $ per participant
- Low cost6.3 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving8.0 / 1553th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score28 / 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 | 27th |
| Lower admin cost | 25th |
| Employee saving | 53th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $32,671 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Homecare Partners Management put in about $310 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 (0.46% 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 | $339,290 |
| Participant (employee) contributions | $3,048,515 |
| Other contributions (incl. rollovers in) | $281,258 |
| Administrative expenses paid from the plan | $76,183 |
| Investment advisory & management fees | $43,502 |
| Benefits paid out | $1,370,022 |
| Net assets, start / end of year | $14.2M / $18.5M |
| Active participants, start / end of year | 1,128 / 1,061 |
| Participants with account balances | 602 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Walters & Associates CPA |
Largest service providers (Schedule C)
| Commonwealth Equity Services, Inc. | $34,129 reported compensation |
| Adp, Inc. | $32,681 reported compensation |
| MML Investors Services, Inc. | $6,748 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015060517NAL0003886337001, received 2025-10-15, EIN 84-2525296, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.