Ironwood Physicians 401(k) Review & Grade
Ironwood Physicians 401(k) Plan
Chandler, AZHealth Care & Social Assistance522 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,399Employer $ per active participant
$7,846Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$62.9MNet plan assets, end of year
$89,247Average balance per account
Score breakdown
- Employer generosity42.6 / 5085th percentile for employer $ per participant
- Low cost19.0 / 2576th percentile for low admin cost vs. same-size plans
- Employee saving14.2 / 1595th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score83 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 76th |
| Employee saving | 95th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,593 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ironwood Physicians put in about $3,399 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.
- 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 | $1,774,076 |
| Participant (employee) contributions | $4,095,562 |
| Other contributions (incl. rollovers in) | $89,590 |
| Administrative expenses paid from the plan | $53,125 |
| Benefits paid out | $3,758,895 |
| Net assets, start / end of year | $52.7M / $62.9M |
| Active participants, start / end of year | 527 / 517 |
| Participants with account balances | 705 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Metz CPA, PLLC |
Largest service providers (Schedule C)
| Adp, Inc. | $53,125 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929051028NAL0011775408001, received 2025-09-29, EIN 73-1636831, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.