Centra Healthcare Solutions in 401(k) Review & Grade
Centra Healthcare Solutions in 401(k) Profit Sharing Plan & Trust
Fort Lauderdale, FLProfessional, Scientific & Technical Services882 active participantsPlan year 2024
Estimate from the plan's Form 5500-SF filing · How we grade
$113Employer $ per active participant
$208Employee $ saved per active participant
1.17%Direct admin cost, % of plan assets
$1.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity3.7 / 507th percentile for employer $ per participant
- Low cost1.2 / 255th percentile for low admin cost vs. same-size plans
- Employee saving0.3 / 152th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score5 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 7th |
| Lower admin cost | 5th |
| Employee saving | 2th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $6,484 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Centra Healthcare Solutions in put in about $113 per active participant, below the typical peer ($3,082). 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 (1.17% 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 | $99,556 |
| Participant (employee) contributions | $183,482 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $17,778 |
| Benefits paid out | $200,232 |
| Net assets, start / end of year | $1.4M / $1.7M |
| Active participants, start / end of year | 875 / 888 |
| Participants with account balances | 68 |
| Auto-enrollment (feature code 2S) | Not reported |
Source: DOL EFAST2 Form 5500-SF filing, acknowledgment ID 20250408030020NAL0027394144001, received 2025-04-08, EIN 26-4282042, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.