American National Red Cross 401(k) Review & Grade
American Red Cross Savings Plan
Washington, DCHealth Care & Social Assistance17,895 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,720Employer $ per active participant
$5,166Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$1.7BNet plan assets, end of year
$78,152Average balance per account
Score breakdown
- Employer generosity30.3 / 5061th percentile for employer $ per participant
- Low cost6.5 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving8.7 / 1558th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score46 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 26th |
| Employee saving | 58th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $62,156 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- American National Red Cross put in about $2,720 per active participant, more than the typical peer ($2,086). 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.
- Direct plan expenses (0.16% of assets) are well above similar-size plans (0.09%). 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 | $48,678,483 |
| Participant (employee) contributions | $92,443,366 |
| Other contributions (incl. rollovers in) | $4,789,043 |
| Administrative expenses paid from the plan | $2,569,795 |
| Investment advisory & management fees | $1,287,309 |
| Other admin expenses | $24 |
| Benefits paid out | $126,860,417 |
| Net assets, start / end of year | $1.5B / $1.7B |
| Active participants, start / end of year | 17,898 / 17,892 |
| Participants with account balances | 22,277 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | KPMG LLP |
Largest service providers (Schedule C)
| Edelman Financial Engines LLC | $1,287,309 reported compensation |
| Alight Solutions LLC | $936,878 reported compensation |
| Northern Trust Inc. | $209,004 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250917144049NAL0000658704001, received 2025-09-17, EIN 53-0196605, plan #008, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.