Wayne County Action Program, Inc. 401(k) Review & Grade
Wayne County Action Program, Inc. 403(b) Thrift Plan
Lyons, NYHealth Care & Social Assistance570 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$196Employer $ per active participant
$350Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$2.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity10.6 / 5021th percentile for employer $ per participant
- Low cost14.9 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving1.0 / 157th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score30 / 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 | 21th |
| Lower admin cost | 60th |
| Employee saving | 7th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Wayne County Action Program put in about $196 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 | $111,678 |
| Participant (employee) contributions | $199,744 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $4,472 |
| Contract administrator fees | $4,472 |
| Benefits paid out | $231,620 |
| Net assets, start / end of year | $2.5M / $2.8M |
| Active participants, start / end of year | 555 / 585 |
| Participants with account balances | 155 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bonadio & Co., LLP |
Largest service providers (Schedule C)
| Capital Group Retirement Plan Svcs | $2,155 reported compensation |
| Rimkus, Marciano & Associates, Inc. | $2,150 reported compensation |
| Mutual of America Life Insurance Co | $368 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007091435NAL0002333811001, received 2025-10-07, EIN 16-6069004, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.