Foundation for Health Care Continuums 401(k) Review & Grade
Continuums Foundation Employee 401(k) Savings Trust
Sartell, MNHealth Care & Social Assistance530 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$917Employer $ per active participant
$1,717Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$14.4MNet plan assets, end of year
$37,110Average balance per account
Score breakdown
- Employer generosity24.2 / 5048th percentile for employer $ per participant
- Low cost20.9 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving5.6 / 1537th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score44 / 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 | 48th |
| Lower admin cost | 83th |
| Employee saving | 37th |
| Peers that auto-enroll | 36% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($19 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Foundation for Health Care Continuums put in about $917 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.
- 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $485,783 |
| Participant (employee) contributions | $909,381 |
| Other contributions (incl. rollovers in) | $42,752 |
| Administrative expenses paid from the plan | $8,969 |
| Benefits paid out | $2,638,836 |
| Net assets, start / end of year | $13.9M / $14.4M |
| Active participants, start / end of year | 515 / 544 |
| Participants with account balances | 389 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $8,969 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250625072517NAL0004487875001, received 2025-06-25, EIN 62-1611446, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.