Family Health Centers of South 401(k) Review & Grade
401(a) Profit-Sharing Plan for Employees of Family Health Centers of Southwest Florida, Inc.
Fort Myers, FLHealth Care & Social Assistance592 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,298Employer $ per active participant
$0Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$29.6MNet plan assets, end of year
$34,814Average balance per account
Score breakdown
- Employer generosity45.6 / 5091th percentile for employer $ per participant
- Low cost23.2 / 2593th percentile for low admin cost vs. same-size plans
- Employee saving0.0 / 150th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 93th |
| Employee saving | 0th |
| 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
- Family Health Centers of South put in about $5,298 per active participant, more than the typical peer ($976). 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.
- 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 | $3,136,432 |
| Participant (employee) contributions | $0 |
| Other contributions (incl. rollovers in) | $51,474 |
| Administrative expenses paid from the plan | $8,219 |
| Other admin expenses | $8,219 |
| Benefits paid out | $1,029,443 |
| Net assets, start / end of year | $23.9M / $29.6M |
| Active participants, start / end of year | 548 / 636 |
| Participants with account balances | 851 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Hsc/tuscan & Company, PA |
Largest service providers (Schedule C)
| Mutual of America Investment Corp | $11,548 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009130654NAL0011004576001, received 2025-10-09, EIN 59-1741273, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.