Memorial Healthcare 401(k) Review & Grade
Memorial Retirement Plan
Owosso, MIHealth Care & Social Assistance1,622 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,353Employer $ per active participant
$4,396Employee $ saved per active participant
0.00%Direct admin cost, % of plan assets
$115.1MNet plan assets, end of year
$50,702Average balance per account
Score breakdown
- Employer generosity29.0 / 5058th percentile for employer $ per participant
- Low cost24.8 / 2599th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score62 / 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 | 58th |
| Lower admin cost | 99th |
| Employee saving | 73th |
| Peers that auto-enroll | 36% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $1,078 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Memorial Healthcare put in about $1,353 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 | $2,194,828 |
| Participant (employee) contributions | $7,130,679 |
| Other contributions (incl. rollovers in) | $782,118 |
| Administrative expenses paid from the plan | $3,401 |
| Investment advisory & management fees | $83,255 |
| Other admin expenses | $6,750 |
| Benefits paid out | $9,296,910 |
| Net assets, start / end of year | $99.5M / $115.1M |
| Active participants, start / end of year | 1,464 / 1,780 |
| Participants with account balances | 2,270 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Capfinancial Partners LLC | $64,750 reported compensation |
| Strategic Advisors, Inc. | $22,755 reported compensation |
| Fidelity Investments Institutional | −$84,103 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015164412NAL0002654787001, received 2025-10-15, EIN 38-1358208, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.