The Arc of Monmouth, Inc. 401(k) Review & Grade
Safe-Harbor 403(b) Thrift Plan for Employees of the Arc of Monmouth, Inc.
Tinton Falls, NJHealth Care & Social Assistance624 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$338Employer $ per active participant
$575Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$8.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity13.8 / 5028th percentile for employer $ per participant
- Low cost23.8 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving1.9 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
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 | 28th |
| Lower admin cost | 95th |
| Employee saving | 13th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $17,439 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Arc of Monmouth put in about $338 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 | $210,717 |
| Participant (employee) contributions | $358,508 |
| Other contributions (incl. rollovers in) | $64,305 |
| Administrative expenses paid from the plan | $1,779 |
| Other admin expenses | $1,779 |
| Benefits paid out | $1,033,263 |
| Net assets, start / end of year | $8.3M / $8.7M |
| Active participants, start / end of year | 585 / 663 |
| Participants with account balances | 198 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Holman Frenia Allison, PC |
Largest service providers (Schedule C)
| Mutual of America Investment Corp | $1,779 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009142908NAL0003658131001, received 2025-10-09, EIN 21-0657022, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.