Restorixhealth 401(k) Review & Grade
Restorixhealth 401(k) Plan
Metairie, LAHealth Care & Social Assistance1,146 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,703Employer $ per active participant
$4,416Employee $ saved per active participant
0.61%Direct admin cost, % of plan assets
$48.0MNet plan assets, end of year
$33,268Average balance per account
Score breakdown
- Employer generosity32.6 / 5065th percentile for employer $ per participant
- Low cost4.2 / 2517th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score48 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 17th |
| Employee saving | 73th |
| Peers that auto-enroll | 36% |
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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 ($344,921 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Restorixhealth put in about $1,703 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.
- Direct plan expenses (0.61% 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.
- 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 | $1,952,017 |
| Participant (employee) contributions | $5,063,238 |
| Other contributions (incl. rollovers in) | $553,037 |
| Administrative expenses paid from the plan | $294,159 |
| Contract administrator fees | $215,684 |
| Investment advisory & management fees | $47,500 |
| Benefits paid out | $13,322,954 |
| Net assets, start / end of year | $48.0M / $48.0M |
| Active participants, start / end of year | 1,294 / 999 |
| Participants with account balances | 1,444 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| John Hancock Life Insurance Company | $186,352 reported compensation |
| The Mandmarblestone Group LLC | $47,500 reported compensation |
| Valley Forge Investment Consul | $47,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013173013NAL0003827538001, received 2025-10-13, EIN 22-3583662, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.