Life Generations Healthcare, LLC 401(k) Review & Grade
Generations Healthcare, LLC 401(k) Plan
Santa Ana, CAHealth Care & Social Assistance4,298 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$58Employer $ per active participant
$1,260Employee $ saved per active participant
0.57%Direct admin cost, % of plan assets
$64.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity9.3 / 5019th percentile for employer $ per participant
- Low cost2.6 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving4.6 / 1531th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score10 / 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 | 19th |
| Lower admin cost | 10th |
| Employee saving | 31th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($4,335 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
- Life Generations Healthcare put in about $58 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 (0.57% 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.
- 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 | $250,000 |
| Participant (employee) contributions | $5,413,738 |
| Other contributions (incl. rollovers in) | $585,021 |
| Administrative expenses paid from the plan | $348,732 |
| Benefits paid out | $6,662,216 |
| Net assets, start / end of year | $56.8M / $64.8M |
| Active participants, start / end of year | 4,561 / 4,034 |
| Participants with account balances | 1,755 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wright Ford Young & Co. |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $301,014 reported compensation |
| Centaurus Financial Inc | $175,012 reported compensation |
| National Benefit Services, LLC | $74,116 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251210160111NAL0004651715001, received 2025-12-10, EIN 33-0838455, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.