Morristown-Hamblen Hospital Association 401(k) Review & Grade
Morristown-Hamblen Hospital Association 401(k) Plan
Morristown, TNHealth Care & Social Assistance822 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$833Employer $ per active participant
$2,336Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$37.7MNet plan assets, end of year
$64,075Average balance per account
Score breakdown
- Employer generosity23.2 / 5046th percentile for employer $ per participant
- Low cost20.6 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving7.0 / 1546th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score51 / 100 · Grade C
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 | 82th |
| Employee saving | 46th |
| 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
Corrective distributions: the plan refunded $773 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Morristown-Hamblen Hospital Association put in about $833 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 | $684,658 |
| Participant (employee) contributions | $1,918,981 |
| Other contributions (incl. rollovers in) | $499,772 |
| Administrative expenses paid from the plan | $24,195 |
| Benefits paid out | $3,913,774 |
| Net assets, start / end of year | $33.9M / $37.7M |
| Active participants, start / end of year | 691 / 952 |
| Participants with account balances | 588 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pya, P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $13,077 reported compensation |
| Pya, P.C. | $11,118 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251028140835NAL0004668899001, received 2025-10-28, EIN 62-0545814, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.