Salud Para La Gente 401(k) Review & Grade
Salud Para La Gente 401(k) Plan
Watsonville, CAHealth Care & Social Assistance504 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,870Employer $ per active participant
$3,688Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$23.7MNet plan assets, end of year
$45,357Average balance per account
Score breakdown
- Employer generosity34.4 / 5069th percentile for employer $ per participant
- Low cost9.9 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving9.6 / 1564th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score44 / 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 | 69th |
| Lower admin cost | 39th |
| Employee saving | 64th |
| Peers that auto-enroll | 36% |
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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 ($171,973 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $225,036 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Salud Para La Gente put in about $1,870 per active participant, more than the typical peer ($976). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- 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 | $943,363 |
| Participant (employee) contributions | $1,860,417 |
| Other contributions (incl. rollovers in) | $77,047 |
| Administrative expenses paid from the plan | $68,550 |
| Contract administrator fees | $68,550 |
| Benefits paid out | $2,043,166 |
| Net assets, start / end of year | $20.6M / $23.7M |
| Active participants, start / end of year | 497 / 512 |
| Participants with account balances | 523 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars LLP |
Largest service providers (Schedule C)
| Newport Group, Inc. | $68,550 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014134847NAL0001451251001, received 2025-10-14, EIN 94-2705747, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.