People, Inc. 401(k) Review & Grade
People, Inc. 401(k) Profit Sharing Plan
Williamsville, NYHealth Care & Social Assistance3,866 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$262Employer $ per active participant
$1,022Employee $ saved per active participant
0.34%Direct admin cost, % of plan assets
$60.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity16.7 / 5033th percentile for employer $ per participant
- Low cost4.8 / 2519th percentile for low admin cost vs. same-size plans
- Employee saving4.0 / 1527th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 33th |
| Lower admin cost | 19th |
| Employee saving | 27th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $491 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- People put in about $262 per active participant, below the typical peer ($800). 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 (0.34% of assets) are well above similar-size plans (0.12%). 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 | $1,012,762 |
| Participant (employee) contributions | $3,950,755 |
| Other contributions (incl. rollovers in) | $1,618,108 |
| Administrative expenses paid from the plan | $193,351 |
| Investment advisory & management fees | $34,557 |
| Benefits paid out | $4,834,422 |
| Net assets, start / end of year | $52.3M / $60.8M |
| Active participants, start / end of year | 3,627 / 4,105 |
| Participants with account balances | 1,480 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bryans and Gramuglia Cpas, LLC |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $158,794 reported compensation |
| Global Retirement Partners | $27,523 reported compensation |
| Wellth Advisory Services, LLC | $7,034 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925072624NAL0018823490001, received 2025-09-25, EIN 16-0975538, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.