Benchmark Senior Living LLC 401(k) Review & Grade
Benchmark Senior Living 401(k) Plan
Waltham, MAHealth Care & Social Assistance6,886 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$397Employer $ per active participant
$1,524Employee $ saved per active participant
0.48%Direct admin cost, % of plan assets
$94.9MNet plan assets, end of year
$16,610Average balance per account
Score breakdown
- Employer generosity20.3 / 5041th percentile for employer $ per participant
- Low cost3.4 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving5.2 / 1535th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 14th |
| Employee saving | 35th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $244,212 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Benchmark Senior Living put in about $397 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 (0.48% 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 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 | $2,736,220 |
| Participant (employee) contributions | $10,490,293 |
| Other contributions (incl. rollovers in) | $1,762,363 |
| Administrative expenses paid from the plan | $423,536 |
| Investment advisory & management fees | $91,510 |
| Benefits paid out | $10,874,330 |
| Net assets, start / end of year | $81.4M / $94.9M |
| Active participants, start / end of year | 6,822 / 6,949 |
| Participants with account balances | 5,711 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Caron & Bletzer, Pcllc |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $332,101 reported compensation |
| Sageview Advisory Group, LLC | $75,000 reported compensation |
| Sageview Advisory Group, LLC | $16,510 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007145113NAL0002558099001, received 2025-10-07, EIN 04-3385173, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.