Bobby Buka, M.D., P.C. 401(k) Review & Grade
The Derm Specs 401(k) Plan
New York, NYHealth Care & Social Assistance529 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$49Employer $ per active participant
$1,445Employee $ saved per active participant
0.63%Direct admin cost, % of plan assets
$3.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.0 / 5012th percentile for employer $ per participant
- Low cost4.0 / 2516th percentile for low admin cost vs. same-size plans
- Employee saving4.8 / 1532th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score18 / 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 | 12th |
| Lower admin cost | 16th |
| Employee saving | 32th |
| 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
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Bobby Buka, M.D. put in about $49 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 (0.63% 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 | $25,882 |
| Participant (employee) contributions | $764,284 |
| Other contributions (incl. rollovers in) | $119,471 |
| Administrative expenses paid from the plan | $16,211 |
| Benefits paid out | $58,507 |
| Net assets, start / end of year | $2.1M / $3.1M |
| Active participants, start / end of year | 478 / 580 |
| Participants with account balances | 179 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lilling & Company LLP |
Largest service providers (Schedule C)
| The Benefit Practice | $12,753 reported compensation |
| Empower Life & Annuity Ins. Co Ny | $4,611 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014172022NAL0003376097001, received 2025-10-14, EIN 20-8175031, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.