Otterbein Homes 401(k) Review & Grade
Otterbein Homes 401(k) Plan
Lebanon, OHHealth Care & Social Assistance2,091 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$554Employer $ per active participant
$1,077Employee $ saved per active participant
0.53%Direct admin cost, % of plan assets
$28.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity18.8 / 5038th percentile for employer $ per participant
- Low cost5.3 / 2521th percentile for low admin cost vs. same-size plans
- Employee saving3.4 / 1523th 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 | 38th |
| Lower admin cost | 21th |
| Employee saving | 23th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $96,233 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Otterbein Homes put in about $554 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 (0.53% 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 | $1,157,801 |
| Participant (employee) contributions | $2,251,176 |
| Other contributions (incl. rollovers in) | $4,154,859 |
| Administrative expenses paid from the plan | $135,363 |
| Investment advisory & management fees | $100,576 |
| Benefits paid out | $3,165,323 |
| Net assets, start / end of year | $22.4M / $28.9M |
| Active participants, start / end of year | 2,106 / 2,076 |
| Participants with account balances | 838 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $73,011 reported compensation |
| Empower Annuity Insurance Company O | $34,788 reported compensation |
| Fifth Third Bank | $27,565 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250707135021NAL0009134034001, received 2025-07-07, EIN 31-0549058, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.