Continental Home Care 401(k) Review & Grade
Continental Home Care Retirement Plan
Forest Hills, NYHealth Care & Social Assistance3,239 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$24Employer $ per active participant
$144Employee $ saved per active participant
4.16%Direct admin cost, % of plan assets
$3.6MNet plan assets, end of year
$1,940Average balance per account
Score breakdown
- Employer generosity6.9 / 5014th percentile for employer $ per participant
- Low cost0.0 / 250th percentile for low admin cost vs. same-size plans
- Employee saving1.1 / 157th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score8 / 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 | 14th |
| Lower admin cost | 0th |
| Employee saving | 7th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $47 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Continental Home Care put in about $24 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 (4.16% 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 | $79,113 |
| Participant (employee) contributions | $467,242 |
| Other contributions (incl. rollovers in) | $1,172 |
| Administrative expenses paid from the plan | $139,610 |
| Investment advisory & management fees | $306 |
| Benefits paid out | $221,074 |
| Net assets, start / end of year | $3.1M / $3.6M |
| Active participants, start / end of year | 2,920 / 3,558 |
| Participants with account balances | 1,867 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $139,610 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251020050217NAL0000625507001, received 2025-10-20, EIN 11-3709020, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.