Northern Ohio Medical Specialists, LLC 401(k) Review & Grade
Noms 401(k) Profit Sharing Plan
Sandusky, OHHealth Care & Social Assistance1,226 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,527Employer $ per active participant
$3,917Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$117.2MNet plan assets, end of year
$65,242Average balance per account
Score breakdown
- Employer generosity42.8 / 5086th percentile for employer $ per participant
- Low cost15.8 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving10.1 / 1568th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score79 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 86th |
| Lower admin cost | 63th |
| Employee saving | 68th |
| 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
- Northern Ohio Medical Specialists put in about $3,527 per active participant, more than the typical peer ($976). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $4,324,289 |
| Participant (employee) contributions | $4,802,306 |
| Other contributions (incl. rollovers in) | $1,550,813 |
| Administrative expenses paid from the plan | $162,132 |
| Contract administrator fees | $22,699 |
| Investment advisory & management fees | $60,449 |
| Benefits paid out | $7,459,880 |
| Net assets, start / end of year | $99.8M / $117.2M |
| Active participants, start / end of year | 1,195 / 1,257 |
| Participants with account balances | 1,797 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Meaden & Moore, LTD |
Largest service providers (Schedule C)
| Newport Group, Inc. | $129,788 reported compensation |
| Venture Visionary Partners | $60,449 reported compensation |
| Newport Trust Company | $27,121 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013160438NAL0001571857001, received 2025-10-13, EIN 34-1933718, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.