Louisiana Children's Medical Center 401(k) Review & Grade
Louisiana Children's Medical Center Retirement and Savings Plan
New Orleans, LAHealth Care & Social Assistance14,300 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,935Employer $ per active participant
$4,043Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$1.0BNet plan assets, end of year
$53,422Average balance per account
Score breakdown
- Employer generosity24.1 / 5048th percentile for employer $ per participant
- Low cost8.5 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1540th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 48th |
| Lower admin cost | 34th |
| Employee saving | 40th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $45,989 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Louisiana Children's Medical Center put in about $1,935 per active participant, below the typical peer ($2,086). 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.
- 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 | $27,666,195 |
| Participant (employee) contributions | $57,815,116 |
| Other contributions (incl. rollovers in) | $38,654,761 |
| Administrative expenses paid from the plan | $1,215,781 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $202,860 |
| Benefits paid out | $98,746,115 |
| Net assets, start / end of year | $866.7M / $1.0B |
| Active participants, start / end of year | 13,357 / 15,244 |
| Participants with account balances | 19,077 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Laporte, Apac |
Largest service providers (Schedule C)
| Fid Inv Inst Ops Co | $1,012,921 reported compensation |
| Strategic Advisors, Inc. | $202,860 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015114624NAL0004753281001, received 2025-10-15, EIN 94-3480131, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.