Three Lower Counties Community 401(k) Review & Grade
TLC, Inc. 401k Plan
Salisbury, MDHealth Care & Social Assistance560 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,913Employer $ per active participant
$3,895Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$35.6MNet plan assets, end of year
$78,424Average balance per account
Score breakdown
- Employer generosity34.7 / 5069th percentile for employer $ per participant
- Low cost13.5 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving10.1 / 1567th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 69th |
| Lower admin cost | 54th |
| Employee saving | 67th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $601 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Three Lower Counties Community put in about $1,913 per active participant, more than the typical peer ($976). 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 | $1,071,062 |
| Participant (employee) contributions | $2,180,999 |
| Other contributions (incl. rollovers in) | $358,276 |
| Administrative expenses paid from the plan | $65,869 |
| Investment advisory & management fees | $54,796 |
| Benefits paid out | $1,349,546 |
| Net assets, start / end of year | $29.6M / $35.6M |
| Active participants, start / end of year | 563 / 557 |
| Participants with account balances | 454 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Uhy LLP |
Largest service providers (Schedule C)
| Merrill Lynch Pierce Fenner & Smith | $57,243 reported compensation |
| Adp, Inc. | $11,073 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001131335NAL0021028914001, received 2025-10-01, EIN 52-1860379, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.