Beacon Specialized Living Services, Inc. 401(k) Review & Grade
Beacon Specialized Living 401(k) Plan
Kalamazoo, MIHealth Care & Social Assistance2,734 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$478Employer $ per active participant
$843Employee $ saved per active participant
1.41%Direct admin cost, % of plan assets
$15.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity21.4 / 5043th percentile for employer $ per participant
- Low cost0.6 / 252th percentile for low admin cost vs. same-size plans
- Employee saving3.3 / 1522th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 2th |
| Employee saving | 22th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($320,342 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
- Beacon Specialized Living Services put in about $478 per active participant, below the typical peer ($800). 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 (1.41% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $1,306,213 |
| Participant (employee) contributions | $2,305,596 |
| Other contributions (incl. rollovers in) | $900,304 |
| Administrative expenses paid from the plan | $194,257 |
| Contract administrator fees | $194,257 |
| Benefits paid out | $2,039,937 |
| Net assets, start / end of year | $11.8M / $15.7M |
| Active participants, start / end of year | 2,858 / 2,611 |
| Participants with account balances | 1,107 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lbmc, PC |
Largest service providers (Schedule C)
| Transamerica Life Insurance Company | $100,968 reported compensation |
| Capstone Wealth Management Group L | $66,912 reported compensation |
| Futureplan by Ascensus | $31,382 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015141614NAL0004800737001, received 2025-10-15, EIN 38-3411707, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.