Orthocarolina, P.A. 401(k) Review & Grade
Orthocarolina 401(k)and Profit Sharing Plan
Charlotte, NCHealth Care & Social Assistance1,695 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$7,304Employer $ per active participant
$6,688Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$363.8MNet plan assets, end of year
$133,538Average balance per account
Score breakdown
- Employer generosity47.7 / 5095th percentile for employer $ per participant
- Low cost20.1 / 2581th percentile for low admin cost vs. same-size plans
- Employee saving13.8 / 1592th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score69 / 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 | 95th |
| Lower admin cost | 81th |
| Employee saving | 92th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($59,292 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $4,833 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Orthocarolina, P.A. put in about $7,304 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $12,380,448 |
| Participant (employee) contributions | $11,336,974 |
| Other contributions (incl. rollovers in) | $902,357 |
| Administrative expenses paid from the plan | $257,198 |
| Benefits paid out | $32,450,523 |
| Net assets, start / end of year | $330.4M / $363.8M |
| Active participants, start / end of year | 1,701 / 1,689 |
| Participants with account balances | 2,724 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Vanguard Group Inc | $257,198 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250724093827NAL0010992130001, received 2025-07-24, EIN 56-1093722, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.