Solaris Foundation, Inc. 401(k) Review & Grade
Solaris Foundation 401(k) Retirement Plan
Bonita Springs, FLHealth Care & Social Assistance1,836 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$119Employer $ per active participant
$1,055Employee $ saved per active participant
0.42%Direct admin cost, % of plan assets
$23.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity8.2 / 5016th percentile for employer $ per participant
- Low cost7.1 / 2529th percentile for low admin cost vs. same-size plans
- Employee saving3.4 / 1523th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score19 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 29th |
| Employee saving | 23th |
| Peers that auto-enroll | 36% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $2,156 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Solaris Foundation put in about $119 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.
- Direct plan expenses (0.42% of assets) are well above similar-size plans (0.23%). 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.
- 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 | $218,316 |
| Participant (employee) contributions | $1,937,174 |
| Other contributions (incl. rollovers in) | $119,655 |
| Administrative expenses paid from the plan | $97,112 |
| Contract administrator fees | $25,752 |
| Investment advisory & management fees | $55,568 |
| Benefits paid out | $3,699,447 |
| Net assets, start / end of year | $22.6M / $23.3M |
| Active participants, start / end of year | 1,858 / 1,814 |
| Participants with account balances | 681 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Puryear & Noonan, P.C. |
Largest service providers (Schedule C)
| M Holding Securitues, Inc. | $55,582 reported compensation |
| Principal Life Insurance Company | $25,752 reported compensation |
| Acuff & Associates, Inc. | $15,792 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250714142737NAL0001152897001, received 2025-07-14, EIN 45-5611172, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.