Ballad Health 401(k) Review & Grade
Ballad Health 401(k) Plan
Johnson City, TNHealth Care & Social Assistance1,144 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,656Employer $ per active participant
$4,217Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$126.4MNet plan assets, end of year
$66,481Average balance per account
Score breakdown
- Employer generosity39.7 / 5079th percentile for employer $ per participant
- Low cost21.1 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving10.6 / 1571th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 79th |
| Lower admin cost | 84th |
| Employee saving | 71th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $6,842 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ballad Health put in about $2,656 per active participant, more than the typical peer ($976). 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.
- 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 | $3,039,870 |
| Participant (employee) contributions | $4,826,074 |
| Other contributions (incl. rollovers in) | $971,275 |
| Administrative expenses paid from the plan | $71,578 |
| Contract administrator fees | $59,828 |
| Investment advisory & management fees | $3,750 |
| Benefits paid out | $10,379,316 |
| Net assets, start / end of year | $113.9M / $126.4M |
| Active participants, start / end of year | 980 / 1,309 |
| Participants with account balances | 1,902 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pyapc |
Largest service providers (Schedule C)
| Lincoln National Corporation | $59,828 reported compensation |
| Pyapc | $8,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260415163309NAL0035128242001, received 2026-04-15, EIN 61-1771290, plan #002, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.