Advocates Incorporated 401(k) Review & Grade
Advocates Incorporated 401(k) Profit Sharing Plan and Trust
Fayetteville, NYHealth Care & Social Assistance639 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$308Employer $ per active participant
$916Employee $ saved per active participant
1.10%Direct admin cost, % of plan assets
$3.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity13.4 / 5027th percentile for employer $ per participant
- Low cost1.3 / 255th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 27th |
| Lower admin cost | 5th |
| Employee saving | 20th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Advocates Incorporated put in about $308 per active participant, below the typical peer ($976). 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 (1.10% 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 | $196,707 |
| Participant (employee) contributions | $585,071 |
| Other contributions (incl. rollovers in) | $26,425 |
| Administrative expenses paid from the plan | $34,648 |
| Contract administrator fees | $34,648 |
| Benefits paid out | $60,757 |
| Net assets, start / end of year | $2.6M / $3.7M |
| Active participants, start / end of year | 614 / 664 |
| Participants with account balances | 209 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bonadio & Co. LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $33,248 reported compensation |
| Royal Alliance Associates Inc. | $14,452 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013133113NAL0000654355001, received 2025-10-13, EIN 16-1453716, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.