Altru Health System 401(k) Review & Grade
Altru Health System Retirement Savings Plan 401k
Grand Forks, NDHealth Care & Social Assistance2,911 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,243Employer $ per active participant
$6,937Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$488.6MNet plan assets, end of year
$122,770Average balance per account
Score breakdown
- Employer generosity44.5 / 5089th percentile for employer $ per participant
- Low cost18.5 / 2574th percentile for low admin cost vs. same-size plans
- Employee saving13.1 / 1587th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
Total score83 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 89th |
| Lower admin cost | 74th |
| Employee saving | 87th |
| Peers that auto-enroll | 38% |
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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
- Altru Health System put in about $4,243 per active participant, more than the typical peer ($800). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $12,352,593 |
| Participant (employee) contributions | $20,192,939 |
| Other contributions (incl. rollovers in) | $1,687,674 |
| Administrative expenses paid from the plan | $275,689 |
| Investment advisory & management fees | $224,167 |
| Benefits paid out | $53,000,390 |
| Net assets, start / end of year | $451.0M / $488.6M |
| Active participants, start / end of year | 2,945 / 2,877 |
| Participants with account balances | 3,980 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailly, LLP |
Largest service providers (Schedule C)
| Alerus Financial, | $275,689 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250728144213NAL0002422192001, received 2025-07-28, EIN 45-0310462, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.