Nvision Eye Centers, LLC 401(k) Review & Grade
Nvision Eye Centers 401(k) Plan
Aliso Viejo, CAHealth Care & Social Assistance1,390 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$409Employer $ per active participant
$3,175Employee $ saved per active participant
0.64%Direct admin cost, % of plan assets
$28.9MNet plan assets, end of year
$40,961Average balance per account
Score breakdown
- Employer generosity15.2 / 5030th percentile for employer $ per participant
- Low cost3.9 / 2516th percentile for low admin cost vs. same-size plans
- Employee saving8.8 / 1558th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score28 / 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 | 30th |
| Lower admin cost | 16th |
| Employee saving | 58th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $140,395 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Nvision Eye Centers put in about $409 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 (0.64% 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 | $567,633 |
| Participant (employee) contributions | $4,410,971 |
| Other contributions (incl. rollovers in) | $1,733,192 |
| Administrative expenses paid from the plan | $158,729 |
| Investment advisory & management fees | $123,172 |
| Benefits paid out | $1,765,447 |
| Net assets, start / end of year | $20.6M / $28.9M |
| Active participants, start / end of year | 1,414 / 1,365 |
| Participants with account balances | 705 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Withumsmith+brown |
Largest service providers (Schedule C)
| Raymond James & Associates Inc | $77,456 reported compensation |
| Empower Annuity Insurance Company O | $49,946 reported compensation |
| Empower Advisory Group, LLC | $36,798 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250915123329NAL0000698211001, received 2025-09-15, EIN 33-0863420, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.