New England Deaconess Association 401(k) Review & Grade
Neda 401(k) Plan · d/b/a Deaconess Abundant Life Communities
Concord, MAHealth Care & Social Assistance658 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,490Employer $ per active participant
$2,153Employee $ saved per active participant
0.52%Direct admin cost, % of plan assets
$20.7MNet plan assets, end of year
$30,654Average balance per account
Score breakdown
- Employer generosity30.8 / 5062th percentile for employer $ per participant
- Low cost5.5 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving6.5 / 1544th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 22th |
| Employee saving | 44th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $25,201 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- New England Deaconess Association put in about $1,490 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 (0.52% 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 | $980,003 |
| Participant (employee) contributions | $1,415,311 |
| Other contributions (incl. rollovers in) | $843 |
| Administrative expenses paid from the plan | $100,454 |
| Contract administrator fees | $90,570 |
| Investment advisory & management fees | $9,884 |
| Benefits paid out | $2,084,770 |
| Net assets, start / end of year | $18.3M / $20.7M |
| Active participants, start / end of year | 628 / 687 |
| Participants with account balances | 674 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly, LLP |
Largest service providers (Schedule C)
| Stancorp Financial Group | $90,284 reported compensation |
| Mayflower Financial Advisors, LLC. | $9,884 reported compensation |
| Charles Schwab Bank | $7,506 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014171143NAL0004606560001, received 2025-10-14, EIN 04-2104763, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.