Cooperative Home Care Associates 401(k) Review & Grade
Cooperative Home Care Associates, Inc. 401(k) Plan
Bronx, NYHealth Care & Social Assistance1,401 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$0Employer $ per active participant
$1,093Employee $ saved per active participant
1.01%Direct admin cost, % of plan assets
$16.6MNet plan assets, end of year
$7,594Average balance per account
Score breakdown
- Employer generosity3.3 / 507th percentile for employer $ per participant
- Low cost1.6 / 256th percentile for low admin cost vs. same-size plans
- Employee saving3.5 / 1523th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score18 / 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 | 7th |
| Lower admin cost | 6th |
| Employee saving | 23th |
| Peers that auto-enroll | 36% |
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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
- Cooperative Home Care Associates put in about $0 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 (1.01% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $303 |
| Participant (employee) contributions | $1,531,702 |
| Other contributions (incl. rollovers in) | $894 |
| Administrative expenses paid from the plan | $160,479 |
| Investment advisory & management fees | $19,980 |
| Benefits paid out | $1,509,294 |
| Net assets, start / end of year | $15.1M / $16.6M |
| Active participants, start / end of year | 1,479 / 1,323 |
| Participants with account balances | 2,182 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US LLP |
Largest service providers (Schedule C)
| Alliance Pension Consultants, LLC | $140,499 reported compensation |
| Millenium Investment & Retirement | $19,981 reported compensation |
| Charles Schwab Trust Bank | $10,749 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003150513NAL0000929651001, received 2025-10-03, EIN 13-3238142, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.