Erie Family Health Center 401(k) Review & Grade
Erie Family Health Center 401(k) Plan
Chicago, ILOther Services791 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,100Employer $ per active participant
$3,883Employee $ saved per active participant
0.51%Direct admin cost, % of plan assets
$41.6MNet plan assets, end of year
$60,625Average balance per account
Score breakdown
- Employer generosity22.7 / 5045th percentile for employer $ per participant
- Low cost5.6 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1566th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 22th |
| Employee saving | 66th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
Corrective distributions: the plan refunded $261,134 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Erie Family Health Center put in about $1,100 per active participant, below the typical peer ($1,257). 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 (0.51% 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 | $869,777 |
| Participant (employee) contributions | $3,071,581 |
| Other contributions (incl. rollovers in) | $594,346 |
| Administrative expenses paid from the plan | $197,396 |
| Contract administrator fees | $101,163 |
| Investment advisory & management fees | $96,233 |
| Benefits paid out | $3,209,995 |
| Net assets, start / end of year | $35.7M / $41.6M |
| Active participants, start / end of year | 774 / 808 |
| Participants with account balances | 686 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Crowe LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $101,163 reported compensation |
| Wintrust Investments LLC | $53,990 reported compensation |
| Onedigital Investment Advisors | $42,260 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014150852NAL0001590419001, received 2025-10-14, EIN 36-3088628, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.