Prime Providers California LLC 401(k) Review & Grade
Prime Providers California LLC 401(k) Plan
Long Beach, CAHealth Care & Social Assistance2,508 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$107Employer $ per active participant
$477Employee $ saved per active participant
1.55%Direct admin cost, % of plan assets
$4.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity12.2 / 5024th percentile for employer $ per participant
- Low cost0.5 / 252th percentile for low admin cost vs. same-size plans
- Employee saving2.4 / 1516th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score15 / 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 | 24th |
| Lower admin cost | 2th |
| Employee saving | 16th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $25,788 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Prime Providers California put in about $107 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 (1.55% 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 | $267,626 |
| Participant (employee) contributions | $1,195,232 |
| Other contributions (incl. rollovers in) | $524,981 |
| Administrative expenses paid from the plan | $59,900 |
| Investment advisory & management fees | $136 |
| Benefits paid out | $401,290 |
| Net assets, start / end of year | $2.9M / $4.9M |
| Active participants, start / end of year | 2,687 / 2,328 |
| Participants with account balances | 431 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Michael J. Conkey and Associates |
Largest service providers (Schedule C)
| Adp, Inc. | $59,900 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015231752NAL0011481522001, received 2025-10-16, EIN 85-3729966, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.