Purpose Home Health 401(k) Review & Grade
Purpose Home Health 401(k) Plan
Indianapolis, INHealth Care & Social Assistance2,711 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$108Employer $ per active participant
$612Employee $ saved per active participant
0.99%Direct admin cost, % of plan assets
$9.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity12.4 / 5025th percentile for employer $ per participant
- Low cost1.1 / 255th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score9 / 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 | 25th |
| Lower admin cost | 5th |
| Employee saving | 18th |
| Peers that auto-enroll | 38% |
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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 ($10,215 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Purpose Home Health put in about $108 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 (0.99% 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.
- 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 | $293,928 |
| Participant (employee) contributions | $1,658,482 |
| Other contributions (incl. rollovers in) | $183,644 |
| Administrative expenses paid from the plan | $76,636 |
| Investment advisory & management fees | $63,409 |
| Benefits paid out | $782,829 |
| Net assets, start / end of year | $6.1M / $9.4M |
| Active participants, start / end of year | 2,459 / 2,963 |
| Participants with account balances | 805 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Blue & Co., LLC |
Largest service providers (Schedule C)
| Adp, Inc. | $46,348 reported compensation |
| Shepherd Financial Invest. Advisory | $30,288 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009162024NAL0004090115001, received 2025-10-09, EIN 45-3772548, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.