Tender Loving Care Management 401(k) Review & Grade
TLC Management, Inc. 401(k) Plan
Marion, INFinance & Insurance2,164 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,147Employer $ per active participant
$1,279Employee $ saved per active participant
0.51%Direct admin cost, % of plan assets
$31.0MNet plan assets, end of year
$19,379Average balance per account
Score breakdown
- Employer generosity5.2 / 5010th percentile for employer $ per participant
- Low cost5.7 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving0.3 / 152th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score11 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 10th |
| Lower admin cost | 23th |
| Employee saving | 2th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $42,986 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Tender Loving Care Management put in about $1,147 per active participant, below the typical peer ($3,606). 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.
- Direct plan expenses (0.51% 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 | $2,482,156 |
| Participant (employee) contributions | $2,767,001 |
| Other contributions (incl. rollovers in) | $63,711 |
| Administrative expenses paid from the plan | $142,764 |
| Investment advisory & management fees | $49,515 |
| Benefits paid out | $2,435,007 |
| Net assets, start / end of year | $25.4M / $31.0M |
| Active participants, start / end of year | 2,225 / 2,102 |
| Participants with account balances | 1,598 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Dulin Ward & Dewald Inc. |
Largest service providers (Schedule C)
| Adp, Inc. | $93,249 reported compensation |
| Edward Jones | $49,514 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251011053557NAL0004627251001, received 2025-10-11, EIN 35-1765894, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.