Naples Center for Dermatology and Cosmetic Surgery 401(k) Review & Grade
Aqua Dermatology 401(k) Profit Sharing Plan
Fort Myers, FLHealth Care & Social Assistance1,593 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,149Employer $ per active participant
$3,586Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$55.2MNet plan assets, end of year
$62,679Average balance per account
Score breakdown
- Employer generosity36.4 / 5073th percentile for employer $ per participant
- Low cost8.6 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving9.4 / 1563th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score54 / 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 | 73th |
| Lower admin cost | 34th |
| Employee saving | 63th |
| 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
Corrective distributions: the plan refunded $83,881 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Naples Center for Dermatology and Cosmetic Surgery put in about $2,149 per active participant, more than the typical peer ($976). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (0.36% 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.
- 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 | $3,423,866 |
| Participant (employee) contributions | $5,713,034 |
| Other contributions (incl. rollovers in) | $993,549 |
| Administrative expenses paid from the plan | $176,456 |
| Contract administrator fees | $176,456 |
| Benefits paid out | $3,754,590 |
| Net assets, start / end of year | $43.4M / $55.2M |
| Active participants, start / end of year | 1,588 / 1,598 |
| Participants with account balances | 881 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Berman Hopkins Wright & Laham, CPA |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $77,336 reported compensation |
| Pentegra Services Inc | $28,079 reported compensation |
| Pentegra Services Inc. | $17,200 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015124334NAL0009287266001, received 2025-10-15, EIN 59-3651253, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.