Care Plus Bergen, Inc. 401(k) Review & Grade
401(k) Plan of Care Plus Bergen for Non-Union Employees
Paramus, NJHealth Care & Social Assistance588 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$808Employer $ per active participant
$4,766Employee $ saved per active participant
0.42%Direct admin cost, % of plan assets
$36.4MNet plan assets, end of year
$72,147Average balance per account
Score breakdown
- Employer generosity22.7 / 5045th percentile for employer $ per participant
- Low cost7.1 / 2529th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 29th |
| Employee saving | 76th |
| 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
- Care Plus Bergen put in about $808 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 (0.42% 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 | $475,267 |
| Participant (employee) contributions | $2,802,576 |
| Other contributions (incl. rollovers in) | $249,801 |
| Administrative expenses paid from the plan | $145,098 |
| Contract administrator fees | $96,125 |
| Investment advisory & management fees | $17,103 |
| Other admin expenses | $6,378 |
| Benefits paid out | $3,629,068 |
| Net assets, start / end of year | $32.0M / $36.4M |
| Active participants, start / end of year | 527 / 649 |
| Participants with account balances | 504 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Tiaa | $121,617 reported compensation |
| Capfinancial Partners, LLC | $17,103 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009085306NAL0011093184001, received 2025-10-09, EIN 82-2081292, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.