Workcare, Inc. 401(k) Review & Grade
Workcare, Inc. Retirement Savings Plan
Anaheim, CAHealth Care & Social Assistance702 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$924Employer $ per active participant
$5,656Employee $ saved per active participant
0.67%Direct admin cost, % of plan assets
$28.9MNet plan assets, end of year
$30,221Average balance per account
Score breakdown
- Employer generosity24.3 / 5049th percentile for employer $ per participant
- Low cost3.5 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving12.8 / 1586th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score44 / 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 | 49th |
| Lower admin cost | 14th |
| Employee saving | 86th |
| 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
- Workcare put in about $924 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.
- Direct plan expenses (0.67% 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.
- 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 | $649,329 |
| Participant (employee) contributions | $3,973,243 |
| Other contributions (incl. rollovers in) | $483,508 |
| Administrative expenses paid from the plan | $172,563 |
| Contract administrator fees | $172,563 |
| Benefits paid out | $3,643,402 |
| Net assets, start / end of year | $22.4M / $28.9M |
| Active participants, start / end of year | 673 / 732 |
| Participants with account balances | 957 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $106,064 reported compensation |
| Sageview Advisory Group LLC | $62,639 reported compensation |
| Strategic Advisors, Inc. | $3,861 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014115818NAL0005722706001, received 2025-10-14, EIN 33-0779311, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.