The Longstreet Clinic, P.C. 401(k) Review & Grade
The Longstreet Clinic, P. C. 401(k) Plan and Trust
Gainesville, GAHealth Care & Social Assistance612 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,286Employer $ per active participant
$5,145Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$143.0MNet plan assets, end of year
$165,169Average balance per account
Score breakdown
- Employer generosity48.4 / 5097th percentile for employer $ per participant
- Low cost16.3 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving12.1 / 1580th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score84 / 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 | 97th |
| Lower admin cost | 65th |
| Employee saving | 80th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $28,550 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Longstreet Clinic put in about $8,286 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 | $5,070,922 |
| Participant (employee) contributions | $3,149,024 |
| Other contributions (incl. rollovers in) | $165,945 |
| Administrative expenses paid from the plan | $191,424 |
| Contract administrator fees | $183,374 |
| Investment advisory & management fees | $5,000 |
| Other admin expenses | $3,050 |
| Benefits paid out | $15,998,398 |
| Net assets, start / end of year | $132.1M / $143.0M |
| Active participants, start / end of year | 614 / 610 |
| Participants with account balances | 866 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Warren Averett, LLC |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $186,561 reported compensation |
| Raymond James Financial Services Ad | $94,307 reported compensation |
| The Angell Pension Group, Inc. | $5,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014085723NAL0001144099001, received 2025-10-14, EIN 58-2117020, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.