Naphcare U.S., Inc. 401(k) Review & Grade
Naphcare US Inc. 401(k) Plan
Birmingham, ALHealth Care & Social Assistance5,650 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$297Employer $ per active participant
$2,077Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$61.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity18.2 / 5036th percentile for employer $ per participant
- Low cost4.9 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 36th |
| Lower admin cost | 20th |
| Employee saving | 44th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($3,089 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $259,449 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Naphcare U.S. put in about $297 per active participant, below the typical peer ($800). 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 (0.33% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,679,312 |
| Participant (employee) contributions | $11,736,737 |
| Other contributions (incl. rollovers in) | $1,572,598 |
| Administrative expenses paid from the plan | $179,692 |
| Investment advisory & management fees | $55,867 |
| Benefits paid out | $5,825,675 |
| Net assets, start / end of year | $46.2M / $61.1M |
| Active participants, start / end of year | 5,086 / 6,214 |
| Participants with account balances | 2,028 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Haynes Downard,llp |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $146,515 reported compensation |
| Commonwealth Equity Services | $33,252 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006094210NAL0008931906001, received 2025-10-06, EIN 63-1099646, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.