Samaritan Daytop Village, Inc. 401(k) Review & Grade
Samaritan Village, Inc. Retirement Plan
Jamaica, NYOther Services1,372 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,425Employer $ per active participant
$2,686Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$49.8MNet plan assets, end of year
$31,577Average balance per account
Score breakdown
- Employer generosity37.8 / 5076th percentile for employer $ per participant
- Low cost20.0 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving7.7 / 1551th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 80th |
| Employee saving | 51th |
| Peers that auto-enroll | 40% |
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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 ($4,267 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
- Samaritan Daytop Village put in about $2,425 per active participant, more than the typical peer ($1,257). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $3,327,624 |
| Participant (employee) contributions | $3,685,641 |
| Other contributions (incl. rollovers in) | $134,768 |
| Administrative expenses paid from the plan | $35,450 |
| Contract administrator fees | $35,450 |
| Benefits paid out | $4,990,664 |
| Net assets, start / end of year | $43.3M / $49.8M |
| Active participants, start / end of year | 1,369 / 1,375 |
| Participants with account balances | 1,576 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpa's P.C. |
Largest service providers (Schedule C)
| Cetera Advisor Networks LLC | $67,832 reported compensation |
| Empower Life & Annuity Insurance | $35,450 reported compensation |
| Alliant Insurance Services Inc. | $21,118 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014175306NAL0007063698001, received 2025-10-14, EIN 11-2635374, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.