SCP Eye Care Services, LLC 401(k) Review & Grade
Eyesouth Partners 401(k) Plan
Atlanta, GAHealth Care & Social Assistance2,758 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,802Employer $ per active participant
$3,682Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$185.3MNet plan assets, end of year
$96,651Average balance per account
Score breakdown
- Employer generosity33.4 / 5067th percentile for employer $ per participant
- Low cost11.9 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving8.8 / 1559th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 67th |
| Lower admin cost | 48th |
| Employee saving | 59th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $8,739 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- SCP Eye Care Services put in about $1,802 per active participant, more than the typical peer ($800). 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.
- 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 | $4,970,382 |
| Participant (employee) contributions | $10,156,256 |
| Other contributions (incl. rollovers in) | $4,721,638 |
| Administrative expenses paid from the plan | $223,265 |
| Contract administrator fees | $120,401 |
| Investment advisory & management fees | $65,364 |
| Benefits paid out | $13,243,188 |
| Net assets, start / end of year | $152.6M / $185.3M |
| Active participants, start / end of year | 2,686 / 2,831 |
| Participants with account balances | 1,917 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Frazier & Deeter |
Largest service providers (Schedule C)
| John Hancock | $191,637 reported compensation |
| Mma Securities LLC | $65,000 reported compensation |
| Frazier & Deeter, LLC | $37,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260129164041NAL0005867601001, received 2026-01-29, EIN 81-5171738, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.