Parker Jewish Institute for Health Care and Rehabilitation 401(k) Review & Grade
Parker Jewish Institute Retirement Savings Plan
New Hyde Park, NYHealth Care & Social Assistance903 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$305Employer $ per active participant
$1,816Employee $ saved per active participant
0.51%Direct admin cost, % of plan assets
$35.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity13.3 / 5027th percentile for employer $ per participant
- Low cost5.5 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving5.8 / 1539th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score25 / 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 | 22th |
| Employee saving | 39th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $12,498 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Parker Jewish Institute for Health Care and Rehabilitation put in about $305 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 (0.51% 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 | $275,418 |
| Participant (employee) contributions | $1,639,967 |
| Other contributions (incl. rollovers in) | $150,152 |
| Administrative expenses paid from the plan | $183,546 |
| Investment advisory & management fees | $2,828 |
| Other admin expenses | $1,615 |
| Benefits paid out | $6,667,733 |
| Net assets, start / end of year | $36.0M / $35.3M |
| Active participants, start / end of year | 895 / 911 |
| Participants with account balances | 422 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | PKF O'connor Davies LLP |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance Co | $179,140 reported compensation |
| Wells Fargo Advisors Ins Agency Inc | $89,127 reported compensation |
| Empower Advisory Group, LLC | $2,828 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015070630NAL0008092418001, received 2025-10-15, EIN 13-2631069, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.