Future Care Health and Management 401(k) match, vesting and fees
What Future Care Health and Management's 401(k) plan says about matching contributions
The Employers may elect to make discretionary matching contributions equal to 25% of the participant’s elective deferrals up to a maximum of 4% of eligible wages. The discretionary matching contributions are invested in the same investment options and allocation percentages as the participant contributions.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 35 ↗ |
| Match vesting | Participants are immediately vested in their elective deferral contributions, matching contributions and in the actual earnings thereon. | Audit report, p. 36 ↗ |
| Loans | Participants may borrow from their fund accounts a minimum of $500 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. The loans are secured by the balance in the participant’s account and bear interest at rates that range from 4.25% to 9.50%, which are commensurate with local prevailing rates, as determined quarterly by the Plan administrator. | Audit report, p. 36 ↗ |
| Recordkeeper | Empower Annuity Insurance Company | Schedule C ↗ |
| Independent auditor | Gorfine Schiller & Gardyn, PA (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 1,087 defined-contribution plans in professional, scientific, and technical services with 1,000 to 4,999 participants.
| Future Care Health and Management: employer contribution per participant | $573 | |
| Peer median | $2,556 |
| Future Care Health and Management: average balance | $51,957 | |
| Peer median | $100,166 |
| Future Care Health and Management: admin expenses ÷ assets | 0.28% | |
| Peer median | 0.11% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $52.8M at the end of plan year 2021 to $57.4M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 2,439 | $57.4M | $633K | $573 | 0.28% | Quoted in the audit report, p. 35 ↗ | Form 5500 ↗ |
| 2023 | 2,382 | $52.1M | $338K | $333 | 0.29% | Not published | Form 5500 ↗ |
| 2022 | 2,657 | $44.9M | $4,249 | $4 | 0.41% | Not published | Form 5500 ↗ |
| 2021 | 2,865 | $52.8M | — | — | 0.47% | Not published | Form 5500 ↗ |
Common questions
Does Future Care Health and Management match 401(k) contributions?
The audit report attached to the Futurecare 401(k) Plan's plan year 2024 Form 5500, page 35 says: “The Employers may elect to make discretionary matching contributions equal to 25% of the participant’s elective deferrals up to a maximum of 4% of eligible wages. The discretionary matching contributions are invested in the same investment options and allocation percentages as the participant contributions.” Plan terms may have changed; check your current Summary Plan Description.
When is the Future Care Health and Management 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 36 says: “Participants are immediately vested in their elective deferral contributions, matching contributions and in the actual earnings thereon.”
Who manages the Future Care Health and Management 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Annuity Insurance Company. The plan administrator is Future Care Health and Management Corporation.
I left Future Care Health and Management. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Future Care Health and Management Corporation, (410) 766-1995) or the recordkeeper, Empower Annuity Insurance Company. The Future Care Health and Management old 401(k) page lists the contacts from every plan filing. Find an old Future Care Health and Management 401(k)
Data from the public Form 5500 annual reports Future Care Health and Management filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Future Care Health and Management. Not financial advice. Report a correction · Methodology