National Health Corporation 401(k) Review & Grade
National Healthcare Corporation 401(k) Plan
Murfreesboro, TNHealth Care & Social Assistance17,226 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$180Employer $ per active participant
$831Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$325.3MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity9.6 / 5019th percentile for employer $ per participant
- Low cost14.5 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving2.8 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 58th |
| Employee saving | 18th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $296,685 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- National Health put in about $180 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 | $3,097,837 |
| Participant (employee) contributions | $14,311,642 |
| Other contributions (incl. rollovers in) | $10,737,807 |
| Administrative expenses paid from the plan | $209,102 |
| Contract administrator fees | $164,895 |
| Investment advisory & management fees | $44,207 |
| Benefits paid out | $31,230,503 |
| Net assets, start / end of year | $265.8M / $325.3M |
| Active participants, start / end of year | 15,434 / 19,017 |
| Participants with account balances | 6,844 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Jobe, Hastings & Associates, Cpas |
Largest service providers (Schedule C)
| The Trust Company of Tennessee | $164,895 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015160834NAL0010217202001, received 2025-10-15, EIN 62-1294263, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.