Specialtycare, Inc. 401(k) Review & Grade
Specialtycare 401(k) Plan
Brentwood, TNHealth Care & Social Assistance1,922 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,658Employer $ per active participant
$8,407Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$241.4MNet plan assets, end of year
$98,237Average balance per account
Score breakdown
- Employer generosity39.7 / 5079th percentile for employer $ per participant
- Low cost17.2 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving14.3 / 1596th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score78 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 79th |
| Lower admin cost | 69th |
| Employee saving | 96th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,584 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Specialtycare put in about $2,658 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 | $5,108,045 |
| Participant (employee) contributions | $16,157,819 |
| Other contributions (incl. rollovers in) | $1,143,084 |
| Administrative expenses paid from the plan | $283,358 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $87,116 |
| Other admin expenses | $46,000 |
| Benefits paid out | $27,931,102 |
| Net assets, start / end of year | $215.5M / $241.4M |
| Active participants, start / end of year | 1,814 / 2,030 |
| Participants with account balances | 2,457 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lbmc, PC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $134,242 reported compensation |
| Strategic Advisors, Inc. | $87,116 reported compensation |
| Mma Securities LLC | $46,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250714104531NAL0000965313001, received 2025-07-14, EIN 20-8825842, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.