Richcroft, Inc. 401(k) Review & Grade
Employee Benefit Plan of Richcroft, Inc.
Sparks, MDHealth Care & Social Assistance576 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$367Employer $ per active participant
$788Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$6.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity14.3 / 5029th percentile for employer $ per participant
- Low cost22.8 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving2.6 / 1517th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 29th |
| Lower admin cost | 91th |
| Employee saving | 17th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Richcroft put in about $367 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 | $211,679 |
| Participant (employee) contributions | $454,159 |
| Other contributions (incl. rollovers in) | $90,238 |
| Administrative expenses paid from the plan | $1,996 |
| Other admin expenses | $1,996 |
| Benefits paid out | $343,643 |
| Net assets, start / end of year | $4.9M / $6.0M |
| Active participants, start / end of year | 543 / 610 |
| Participants with account balances | 246 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Anderson, Davis and Associated, CPA |
Largest service providers (Schedule C)
| Mutual of America Investment Corp | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010085114NAL0007395793001, received 2025-10-10, EIN 52-1302331, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.