Groden Center, Inc. 401(k) Review & Grade
The Groden Center, Inc. 401(k) Profit Sharing Plan
Providence, RIHealth Care & Social Assistance582 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$440Employer $ per active participant
$1,753Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$18.8MNet plan assets, end of year
$23,928Average balance per account
Score breakdown
- Employer generosity15.9 / 5032th percentile for employer $ per participant
- Low cost21.0 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving5.6 / 1538th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 84th |
| Employee saving | 38th |
| 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
- Groden Center put in about $440 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 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 | $255,584 |
| Participant (employee) contributions | $1,019,202 |
| Other contributions (incl. rollovers in) | $34,856 |
| Administrative expenses paid from the plan | $11,138 |
| Other admin expenses | $11,138 |
| Benefits paid out | $1,760,155 |
| Net assets, start / end of year | $17.3M / $18.8M |
| Active participants, start / end of year | 531 / 632 |
| Participants with account balances | 787 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mullen Scorpio Cerilli |
Largest service providers (Schedule C)
| Mutual of America | $11,143 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014124553NAL0001364899002, received 2025-10-14, EIN 05-0369378, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.