Commonwealth Senior Living, LLC 401(k) Review & Grade
Commonwealth Senior Living 401(k) Plan
Charlottesville, VAHealth Care & Social Assistance3,012 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$185Employer $ per active participant
$332Employee $ saved per active participant
1.53%Direct admin cost, % of plan assets
$7.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity14.6 / 5029th percentile for employer $ per participant
- Low cost0.5 / 252th percentile for low admin cost vs. same-size plans
- Employee saving1.8 / 1512th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score20 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 29th |
| Lower admin cost | 2th |
| Employee saving | 12th |
| Peers that auto-enroll | 38% |
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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
- Commonwealth Senior Living put in about $185 per active participant, below the typical peer ($800). 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 (1.53% of assets) are well above similar-size plans (0.12%). 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 | $556,219 |
| Participant (employee) contributions | $999,114 |
| Other contributions (incl. rollovers in) | $126,571 |
| Administrative expenses paid from the plan | $106,587 |
| Contract administrator fees | $71,007 |
| Investment advisory & management fees | $35,580 |
| Benefits paid out | $1,167,525 |
| Net assets, start / end of year | $6.4M / $7.5M |
| Active participants, start / end of year | 3,283 / 2,740 |
| Participants with account balances | 355 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Brown, Edwards & Company, LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $71,007 reported compensation |
| Cetera Investment Services. | $29,705 reported compensation |
| Clearstead Advisors LLC | $5,874 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250829113341NAL0011121969001, received 2025-08-29, EIN 84-1799859, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.