How much does Bestcare, Inc. contribute to its ESOP?

In 2022, employer contributions to the Bestcare, Inc. plan averaged $420 per active participant, below the $2,266 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Bestcare, Inc. 401(k)?

The average participant account balance was $10,940 for plan year 2022, based on 1,844 accounts.

Bestcare, Inc.ESOP

Name: Bestcare, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

BESTCARE, INC. EMPLOYEE STOCK OWNERSHIP PLAN · LEVITTOWN, NY · plan year 2022

Employer contribution per participant · 2022

$420

Bestcare, Inc.'s 2022 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $20,174,096 across 1,844 participant accounts, with employer contributions averaging $420 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $10M–$50M size bracket, benchmarked here against 26,806 comparable plans and shown alongside other health care & social assistance employers. By assets it is the 2,521st-largest of 5,648 plans among New York employers on file, and the 3,680th of 11,911 in health care & social assistance.

Plan summary
Net assets, end of year$20,174,096
Participants with balances1,844
Active participants714
Employer contributions$300,000
Employee contributions—
Employer contribution per active participant$420
Average account balance$10,940
Benefits paid to participants$2,348,618
Plan auditUnmodified (clean) audit opinion
AuditorCARON & BLETZER, PLLC

Plan history3

Yearassets · accounts · employer contribution

2024$19.2M · 1,450 accts · $300K emplr

2023$16.8M · 1,622 accts · $300K emplr

2022$20.2M · 1,844 accts · $300K emplr

Employer contributions to the Bestcare, Inc. plan · 2022

Employer contribution per active participant$420

Median for plans this size$2,266

2024$533 per active participant

2023$462 per active participant

2022$420 per active participant

Bestcare, Inc.'s 2022 employer contribution ran below the $2,266 median for plans its size, in the bottom quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Recordkeeper by year2

2024FIRST AMERICAN BANK

2023FIRST AMERICAN BANK

Looking for an account from a past job here? How to find an old 401(k).

Administrative cost history3

2024Not separately reported

2023Not separately reported

2022Not separately reported

All plans at this employer2

BESTCARE, INC. EMPLOYEES 401(K) PLAN & TRUST401(k)

BESTCARE, INC. EMPLOYEE STOCK OWNERSHIP PLANESOP

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Source: U.S. Department of Labor, Form 5500 series, EIN 133121904 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.