American Family Care, Inc. 401(k) Review & Grade
American Family Care Savings Plan
Birmingham, ALHealth Care & Social Assistance1,133 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$232Employer $ per active participant
$1,992Employee $ saved per active participant
0.94%Direct admin cost, % of plan assets
$22.7MNet plan assets, end of year
$18,546Average balance per account
Score breakdown
- Employer generosity11.5 / 5023th percentile for employer $ per participant
- Low cost1.8 / 257th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1541th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-8 pts2 issues reported on the filing
Total score15 / 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 | 23th |
| Lower admin cost | 7th |
| Employee saving | 41th |
| Peers that auto-enroll | 36% |
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
Auditor disclaimer: the auditor issued a disclaimer of opinion.
Corrective distributions: the plan refunded $120,896 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- American Family Care put in about $232 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 (0.94% 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 | $262,602 |
| Participant (employee) contributions | $2,256,688 |
| Other contributions (incl. rollovers in) | $81,645 |
| Administrative expenses paid from the plan | $201,026 |
| Contract administrator fees | $133,640 |
| Investment advisory & management fees | $67,386 |
| Benefits paid out | $2,098,742 |
| Net assets, start / end of year | $19.9M / $22.7M |
| Active participants, start / end of year | 1,050 / 1,216 |
| Participants with account balances | 1,224 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pearce, Bevill, Leesburg, Moore, PC |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $133,640 reported compensation |
| Creative Planning. | $55,168 reported compensation |
| Acg Wealth | $12,218 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015161704NAL0005098641001, received 2025-10-15, EIN 63-0825248, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.