Professional Care I, Inc. 401(k) Review & Grade
The Palace 401(k) Plan
Miami, FLHealth Care & Social Assistance1,099 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$71Employer $ per active participant
$704Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$9.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.7 / 5013th percentile for employer $ per participant
- Low cost10.0 / 2540th 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 score19 / 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 | 13th |
| Lower admin cost | 40th |
| Employee saving | 16th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $59,726 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Professional Care I put in about $71 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.
- 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.
- 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 | $78,210 |
| Participant (employee) contributions | $773,265 |
| Other contributions (incl. rollovers in) | $4,640 |
| Administrative expenses paid from the plan | $26,951 |
| Investment advisory & management fees | $417 |
| Benefits paid out | $1,093,655 |
| Net assets, start / end of year | $8.3M / $9.2M |
| Active participants, start / end of year | 958 / 1,240 |
| Participants with account balances | 474 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly, US LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $26,534 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014132024NAL0006032018001, received 2025-10-14, EIN 65-0340771, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.