Liberty Healthcare Management, Inc. 401(k) Review & Grade
Liberty Healthcare Services Retirement Plan
Wilmington, NCHealth Care & Social Assistance6,687 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$266Employer $ per active participant
$1,679Employee $ saved per active participant
0.53%Direct admin cost, % of plan assets
$95.6MNet plan assets, end of year
$14,589Average balance per account
Score breakdown
- Employer generosity17.2 / 5034th percentile for employer $ per participant
- Low cost3.0 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving5.8 / 1539th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score16 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 12th |
| Employee saving | 39th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $107,287 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Liberty Healthcare Management put in about $266 per active participant, below the typical peer ($800). 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 (0.53% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $1,776,719 |
| Participant (employee) contributions | $11,227,670 |
| Other contributions (incl. rollovers in) | $1,899,487 |
| Administrative expenses paid from the plan | $463,933 |
| Investment advisory & management fees | $97,465 |
| Benefits paid out | $12,074,994 |
| Net assets, start / end of year | $80.6M / $95.6M |
| Active participants, start / end of year | 6,111 / 7,263 |
| Participants with account balances | 6,551 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $366,528 reported compensation |
| Capfinancial Partners, LLC | $97,465 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013102626NAL0001712576001, received 2025-10-13, EIN 56-2116528, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.