Westcare Foundation, Inc. 401(k) Review & Grade
Westcare Foundation, Inc. Retirement Plan
Henderson, ILOther Services1,481 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$818Employer $ per active participant
$1,620Employee $ saved per active participant
0.55%Direct admin cost, % of plan assets
$28.5MNet plan assets, end of year
$33,613Average balance per account
Score breakdown
- Employer generosity19.3 / 5039th percentile for employer $ per participant
- Low cost5.1 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving5.4 / 1536th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 20th |
| Employee saving | 36th |
| Peers that auto-enroll | 40% |
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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 ($250,898 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
- Westcare Foundation put in about $818 per active participant, below the typical peer ($1,257). 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.
- Direct plan expenses (0.55% 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 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 | $1,211,145 |
| Participant (employee) contributions | $2,398,798 |
| Other contributions (incl. rollovers in) | $23,055 |
| Administrative expenses paid from the plan | $145,968 |
| Contract administrator fees | $141,268 |
| Other admin expenses | $4,700 |
| Benefits paid out | $3,121,923 |
| Net assets, start / end of year | $24.7M / $28.5M |
| Active participants, start / end of year | 1,454 / 1,508 |
| Participants with account balances | 849 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Rubinbrown LLP |
Largest service providers (Schedule C)
| Osaic Wealth, Inc. | $97,730 reported compensation |
| Loren D. Stark Company | $15,062 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251022154811NAL0001833795001, received 2025-10-22, EIN 86-0852629, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.