Chapman Health Care Center, Inc 401(k) Review & Grade
Chapman & Prime 401(k) Profit Sharing Plan
Alexander City, ALHealth Care & Social Assistance726 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$111Employer $ per active participant
$495Employee $ saved per active participant
1.79%Direct admin cost, % of plan assets
$4.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.9 / 5016th percentile for employer $ per participant
- Low cost0.4 / 252th percentile for low admin cost vs. same-size plans
- Employee saving1.7 / 1511th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score7 / 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 | 16th |
| Lower admin cost | 2th |
| Employee saving | 11th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,829 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Chapman Health Care Center put in about $111 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 (1.79% 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 | $80,228 |
| Participant (employee) contributions | $359,311 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $81,456 |
| Contract administrator fees | $81,456 |
| Benefits paid out | $98,707 |
| Net assets, start / end of year | $4.2M / $4.9M |
| Active participants, start / end of year | 708 / 743 |
| Participants with account balances | 208 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Carr, Riggs & Ingram, LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $72,483 reported compensation |
| Nylife Securities | $21,696 reported compensation |
| Orenda Retirment LLC | $15,368 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924123605NAL0017077378001, received 2025-09-24, EIN 20-0402304, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.