Northern Rivers Family Services, Inc. 401(k) Review & Grade
Northern Rivers Family Services, Inc. and Member Agencies Retirement Plan
Albany, NYHealth Care & Social Assistance1,187 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,394Employer $ per active participant
$2,166Employee $ saved per active participant
0.37%Direct admin cost, % of plan assets
$61.1MNet plan assets, end of year
$27,662Average balance per account
Score breakdown
- Employer generosity38.3 / 5077th percentile for employer $ per participant
- Low cost8.4 / 2533th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 33th |
| Employee saving | 44th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $16,872 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Northern Rivers Family Services put in about $2,394 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 (0.37% 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $2,842,063 |
| Participant (employee) contributions | $2,570,737 |
| Other contributions (incl. rollovers in) | $265,373 |
| Administrative expenses paid from the plan | $209,343 |
| Benefits paid out | $3,983,742 |
| Net assets, start / end of year | $53.0M / $61.1M |
| Active participants, start / end of year | 1,181 / 1,193 |
| Participants with account balances | 2,209 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bonadio & Co., LLP |
Largest service providers (Schedule C)
| NBT Bancorp NA | $209,344 reported compensation |
| Charles Schwab Trust Bank | $21,050 reported compensation |
| Epic Retirement Plan Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260410134722NAL0011532049002, received 2026-04-10, EIN 46-0759782, plan #001, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.