Ophthalmic Consultants of Boston, Inc. 401(k) Review & Grade
Ophthalmic Consultants of Boston, Inc. 401(k) Profit Sharing Plan
Boston, MAHealth Care & Social Assistance528 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,988Employer $ per active participant
$6,042Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$116.6MNet plan assets, end of year
$159,291Average balance per account
Score breakdown
- Employer generosity45.4 / 5091th percentile for employer $ per participant
- Low cost14.7 / 2559th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 59th |
| Employee saving | 88th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Ophthalmic Consultants of Boston put in about $4,988 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 | $2,636,329 |
| Participant (employee) contributions | $3,193,081 |
| Other contributions (incl. rollovers in) | $162,897 |
| Administrative expenses paid from the plan | $192,549 |
| Other admin expenses | $113,353 |
| Benefits paid out | $9,061,737 |
| Net assets, start / end of year | $106.3M / $116.6M |
| Active participants, start / end of year | 516 / 541 |
| Participants with account balances | 732 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Aafcpas, Inc. |
Largest service providers (Schedule C)
| Icapital Elite | $113,353 reported compensation |
| Fidelity Investments Institutional | $79,196 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260316165617NAL0001234371001, received 2026-03-16, EIN 04-2500346, plan #002, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.