Carering Health, LLC 401(k) Review & Grade
Carering 401(k) Plan
Louisville, KYHealth Care & Social Assistance2,364 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$125Employer $ per active participant
$208Employee $ saved per active participant
0.60%Direct admin cost, % of plan assets
$2.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity8.4 / 5017th percentile for employer $ per participant
- Low cost4.4 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving0.6 / 154th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-5 pts1 issue reported on the filing
Total score8 / 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 | 17th |
| Lower admin cost | 18th |
| Employee saving | 4th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
What to do if you're in this plan
- Carering Health put in about $125 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 (0.60% 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 | $296,052 |
| Participant (employee) contributions | $491,416 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $12,213 |
| Contract administrator fees | $12,213 |
| Benefits paid out | $604,905 |
| Net assets, start / end of year | $1.8M / $2.3M |
| Active participants, start / end of year | 2,827 / 1,901 |
| Participants with account balances | 230 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
Largest service providers (Schedule C)
| PCS Retirement LLC | $12,213 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015091453NAL0002069155001, received 2025-10-15, EIN 81-1260980, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.