Somatus Inc. 401(k) Review & Grade
Somatus Inc. 401k Plan
Mclean, VAHealth Care & Social Assistance1,256 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$389Employer $ per active participant
$3,956Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$19.9MNet plan assets, end of year
$14,843Average balance per account
Score breakdown
- Employer generosity14.7 / 5029th percentile for employer $ per participant
- Low cost14.7 / 2559th percentile for low admin cost vs. same-size plans
- Employee saving10.2 / 1568th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score37 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 29th |
| Lower admin cost | 59th |
| Employee saving | 68th |
| 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 ($195 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $157,916 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Somatus put in about $389 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.
- 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.
- 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 | $488,290 |
| Participant (employee) contributions | $4,967,230 |
| Other contributions (incl. rollovers in) | $894,153 |
| Administrative expenses paid from the plan | $30,181 |
| Investment advisory & management fees | $2,150 |
| Benefits paid out | $3,362,309 |
| Net assets, start / end of year | $15.0M / $19.9M |
| Active participants, start / end of year | 1,273 / 1,238 |
| Participants with account balances | 1,340 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $30,180 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014053706NAL0001038771001, received 2025-10-14, EIN 82-0666608, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.