Excellus Health Plan Inc. 401(k) Review & Grade
Excellus 401(k) Plan
Rochester, NYFinance & Insurance4,427 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,992Employer $ per active participant
$8,642Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$871.6MNet plan assets, end of year
$164,024Average balance per account
Score breakdown
- Employer generosity37.1 / 5074th percentile for employer $ per participant
- Low cost22.3 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving7.8 / 1552th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score74 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 74th |
| Lower admin cost | 89th |
| Employee saving | 52th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $6,177 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Excellus Health Plan put in about $6,992 per active participant, more than the typical peer ($4,489). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $30,952,657 |
| Participant (employee) contributions | $38,256,503 |
| Other contributions (incl. rollovers in) | $4,742,635 |
| Administrative expenses paid from the plan | $253,101 |
| Contract administrator fees | −$300 |
| Benefits paid out | $68,293,944 |
| Net assets, start / end of year | $751.3M / $871.6M |
| Active participants, start / end of year | 4,495 / 4,359 |
| Participants with account balances | 5,314 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Insero Co. Cpa's LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $251,140 reported compensation |
| Ss&c | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009200158NAL0007064737001, received 2025-10-09, EIN 15-0329043, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.