Family & Nursing Care, Inc. 401(k) Review & Grade
Family & Nursing Care, Inc. 401(k) Plan
Silver Spring, MDHealth Care & Social Assistance812 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$354Employer $ per active participant
$2,003Employee $ saved per active participant
0.80%Direct admin cost, % of plan assets
$13.7MNet plan assets, end of year
$16,051Average balance per account
Score breakdown
- Employer generosity14.0 / 5028th percentile for employer $ per participant
- Low cost2.5 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1542th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 10th |
| Employee saving | 42th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $36,292 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Family & Nursing Care put in about $354 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 (0.80% 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 | $287,030 |
| Participant (employee) contributions | $1,625,547 |
| Other contributions (incl. rollovers in) | $117,264 |
| Administrative expenses paid from the plan | $100,094 |
| Investment advisory & management fees | $30,756 |
| Benefits paid out | $1,037,336 |
| Net assets, start / end of year | $11.4M / $13.7M |
| Active participants, start / end of year | 835 / 788 |
| Participants with account balances | 854 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mullen, Sondberg, Wimbish, & Stone |
Largest service providers (Schedule C)
| Adp, Inc. | $69,338 reported compensation |
| Global Retirement Partners | $30,756 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250728051208NAL0001146113001, received 2025-07-28, EIN 52-0937478, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.