1199seiu National Benefit Fund for Health and Human Service Employees 401(k) Review & Grade
1199seiu National Benefit Fund and Affiliated Organizations 401(k) Plan
New York, NYFinance & Insurance1,519 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$32Employer $ per active participant
$4,410Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$114.7MNet plan assets, end of year
$95,232Average balance per account
Score breakdown
- Employer generosity1.1 / 502th percentile for employer $ per participant
- Low cost15.6 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving2.5 / 1517th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 2th |
| Lower admin cost | 63th |
| Employee saving | 17th |
| Peers that auto-enroll | 62% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($2,804 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- 1199seiu National Benefit Fund for Health and Human Service Employees put in about $32 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.
- 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $49,163 |
| Participant (employee) contributions | $6,698,796 |
| Other contributions (incl. rollovers in) | $368,626 |
| Administrative expenses paid from the plan | $165,003 |
| Contract administrator fees | $165,003 |
| Benefits paid out | $7,785,360 |
| Net assets, start / end of year | $100.6M / $114.7M |
| Active participants, start / end of year | 1,517 / 1,521 |
| Participants with account balances | 1,204 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caron & Bletzer, PLLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $165,002 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010103720NAL0007961665001, received 2025-10-10, EIN 13-1628401, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.