Staar Surgical Company 401(k) Review & Grade
Staar Surgical Company 401(k) Plan
Monrovia, CAHealth Care & Social Assistance733 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,610Employer $ per active participant
$8,611Employee $ saved per active participant
0.44%Direct admin cost, % of plan assets
$65.5MNet plan assets, end of year
$82,012Average balance per account
Score breakdown
- Employer generosity44.9 / 5090th percentile for employer $ per participant
- Low cost6.7 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving14.4 / 1596th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 90th |
| Lower admin cost | 27th |
| Employee saving | 96th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,610 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Staar Surgical put in about $4,610 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 (0.44% 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 | $3,379,470 |
| Participant (employee) contributions | $6,311,950 |
| Other contributions (incl. rollovers in) | $2,637,318 |
| Administrative expenses paid from the plan | $251,365 |
| Contract administrator fees | $251,365 |
| Benefits paid out | $1,959,845 |
| Net assets, start / end of year | $47.6M / $65.5M |
| Active participants, start / end of year | 712 / 754 |
| Participants with account balances | 799 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mun Cpas |
Largest service providers (Schedule C)
| John Hancock | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250828112947NAL0005513427001, received 2025-08-28, EIN 95-3797439, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.