Memorial Hermann Health System 401(k) Review & Grade
Memorial Hermann Health System 401(k) Retirement Savings Plan and Trust
Houston, TXHealth Care & Social Assistance1,348 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$818Employer $ per active participant
$1,447Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$105.6MNet plan assets, end of year
$37,460Average balance per account
Score breakdown
- Employer generosity22.8 / 5046th percentile for employer $ per participant
- Low cost21.2 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving4.8 / 1532th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score42 / 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 | 46th |
| Lower admin cost | 85th |
| Employee saving | 32th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Memorial Hermann Health System put in about $818 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.
- 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 | $1,102,859 |
| Participant (employee) contributions | $1,950,269 |
| Other contributions (incl. rollovers in) | $375,632 |
| Administrative expenses paid from the plan | $59,700 |
| Investment advisory & management fees | $29,448 |
| Other admin expenses | $4,200 |
| Benefits paid out | $10,669,598 |
| Net assets, start / end of year | $98.8M / $105.6M |
| Active participants, start / end of year | 213 / 2,483 |
| Participants with account balances | 2,820 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mcconnell & Jones LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $29,448 reported compensation |
| Mcconnell & Jones LLP | $17,500 reported compensation |
| Fidelity Investments Institutional | $7,915 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013141517NAL0001402769001, received 2025-10-13, EIN 74-1152597, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.