Day Kimball Hospital 401(k) Review & Grade
Day Kimball Hospital Defined Contribution Plan
Putnam, CTHealth Care & Social Assistance1,069 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$875Employer $ per active participant
$2,807Employee $ saved per active participant
0.39%Direct admin cost, % of plan assets
$61.7MNet plan assets, end of year
$59,233Average balance per account
Score breakdown
- Employer generosity23.7 / 5047th percentile for employer $ per participant
- Low cost7.9 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving8.1 / 1554th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 31th |
| Employee saving | 54th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($1,365 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Day Kimball Hospital put in about $875 per active participant, below the typical peer ($976). Any match is still an instant return, so contribute enough to get all of it.
- 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 (0.39% of assets) are well above similar-size plans (0.23%). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $935,125 |
| Participant (employee) contributions | $3,000,294 |
| Other contributions (incl. rollovers in) | $368,855 |
| Administrative expenses paid from the plan | $229,972 |
| Investment advisory & management fees | $71,208 |
| Benefits paid out | $6,405,020 |
| Net assets, start / end of year | $56.4M / $61.7M |
| Active participants, start / end of year | 1,043 / 1,095 |
| Participants with account balances | 1,042 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars LLP |
Largest service providers (Schedule C)
| Usi Consulting Group, Inc. | $158,764 reported compensation |
| Usi Advisors, Inc. | $71,208 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007133927NAL0004843649001, received 2025-10-07, EIN 06-0646599, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.