Specialty RX, Inc. 401(k) Review & Grade
Specialty RX, Inc. 401 (K) Saving Plan
Ridgefield Park, NJRetail Trade1,100 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$228Employer $ per active participant
$1,773Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$8.0MNet plan assets, end of year
$5,680Average balance per account
Score breakdown
- Employer generosity8.8 / 5018th percentile for employer $ per participant
- Low cost23.3 / 2593th percentile for low admin cost vs. same-size plans
- Employee saving4.5 / 1530th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 18th |
| Lower admin cost | 93th |
| Employee saving | 30th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $17,208 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Specialty RX put in about $228 per active participant, below the typical peer ($743). 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.
- 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 | $250,685 |
| Participant (employee) contributions | $1,949,849 |
| Other contributions (incl. rollovers in) | $351,677 |
| Administrative expenses paid from the plan | $1,990 |
| Contract administrator fees | $1,990 |
| Benefits paid out | $937,952 |
| Net assets, start / end of year | $5.6M / $8.0M |
| Active participants, start / end of year | 1,064 / 1,135 |
| Participants with account balances | 1,404 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Fasten Halberstam LLP |
Largest service providers (Schedule C)
| The Paragon Alliance Group LLC | $5,837 reported compensation |
| Empower Annuity Insurance Company | $5,171 reported compensation |
| Empower Advisory Group, LLC | $2,024 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260918101308NAL0006265888001, received 2026-09-18, EIN 74-3046353, plan #001, plan year 2024-08-01 to 2025-07-31. Verify at efast.dol.gov.