Vocational Instructional Project Community Services, Inc. 401(k) Review & Grade
Vocational Instruction Project Community Services, Inc. 403(b) Plan
Bronx, NYHealth Care & Social Assistance544 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,791Employer $ per active participant
$2,264Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$8.6MNet plan assets, end of year
$14,404Average balance per account
Score breakdown
- Employer generosity33.6 / 5067th percentile for employer $ per participant
- Low cost7.5 / 2530th percentile for low admin cost vs. same-size plans
- Employee saving6.8 / 1545th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score48 / 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 | 67th |
| Lower admin cost | 30th |
| Employee saving | 45th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($27,143 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Vocational Instructional Project Community Services put in about $1,791 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.
- Direct plan expenses (0.40% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $974,357 |
| Participant (employee) contributions | $1,231,736 |
| Other contributions (incl. rollovers in) | $112,284 |
| Administrative expenses paid from the plan | $29,902 |
| Benefits paid out | $422,396 |
| Net assets, start / end of year | $6.2M / $8.6M |
| Active participants, start / end of year | 520 / 568 |
| Participants with account balances | 597 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Benefit Plan Admin Services | $26,370 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015184218NAL0007190608001, received 2025-10-15, EIN 13-3224700, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.