The New York Racing Association, Inc. 401(k) Review & Grade
The 401(k) Plan of the New York Racing Association, Inc.
Jamaica, NYArts, Entertainment & Recreation870 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,494Employer $ per active participant
$7,407Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$126.9MNet plan assets, end of year
$70,049Average balance per account
Score breakdown
- Employer generosity33.7 / 5067th percentile for employer $ per participant
- Low cost23.0 / 2592th percentile for low admin cost vs. same-size plans
- Employee saving13.9 / 1592th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 67th |
| Lower admin cost | 92th |
| Employee saving | 92th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- New York Racing Association put in about $1,494 per active participant, more than the typical peer ($995). 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.
- 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 | $1,299,366 |
| Participant (employee) contributions | $6,444,439 |
| Other contributions (incl. rollovers in) | $120,065 |
| Administrative expenses paid from the plan | $41,446 |
| Contract administrator fees | $1,200 |
| Investment advisory & management fees | $24,982 |
| Benefits paid out | $15,109,680 |
| Net assets, start / end of year | $114.5M / $126.9M |
| Active participants, start / end of year | 873 / 867 |
| Participants with account balances | 1,812 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Citrin Cooperman & Company LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $24,982 reported compensation |
| Fidelity Investments Institutional | $16,464 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015131210NAL0004638801001, received 2025-10-15, EIN 61-1559040, plan #007, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.