Monte Nido & Affiliates 401(k) Review & Grade
Monte Nido Holdings 401(k) Retirement Plan
South Miami, FLHealth Care & Social Assistance1,727 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$225Employer $ per active participant
$2,394Employee $ saved per active participant
0.75%Direct admin cost, % of plan assets
$20.3MNet plan assets, end of year
$17,952Average balance per account
Score breakdown
- Employer generosity11.3 / 5023th percentile for employer $ per participant
- Low cost2.8 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving7.1 / 1547th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score11 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 11th |
| Employee saving | 47th |
| 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 ($1,143 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $181 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Monte Nido & Affiliates put in about $225 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 (0.75% 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 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 | $388,753 |
| Participant (employee) contributions | $4,133,627 |
| Other contributions (incl. rollovers in) | $809,665 |
| Administrative expenses paid from the plan | $137,428 |
| Investment advisory & management fees | $49,548 |
| Benefits paid out | $3,404,845 |
| Net assets, start / end of year | $16.2M / $20.3M |
| Active participants, start / end of year | 1,667 / 1,787 |
| Participants with account balances | 1,133 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Torrillo & Associates, LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $78,880 reported compensation |
| Creative Planning LLC | $25,721 reported compensation |
| Mma Securities | $23,827 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007162327NAL0005050353001, received 2025-10-07, EIN 95-4552790, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.