Orthomidwest, PLLC 401(k) Review & Grade
Orthomidwest, PLLC 401(k) Retirement Plan
Rockford, ILHealth Care & Social Assistance1,704 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,376Employer $ per active participant
$5,007Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$190.4MNet plan assets, end of year
$105,864Average balance per account
Score breakdown
- Employer generosity45.8 / 5092th percentile for employer $ per participant
- Low cost23.4 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving11.9 / 1579th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 94th |
| Employee saving | 79th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $7,343 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Orthomidwest, PLLC put in about $5,376 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 | $9,157,484 |
| Participant (employee) contributions | $8,528,962 |
| Other contributions (incl. rollovers in) | $1,881,906 |
| Administrative expenses paid from the plan | $47,078 |
| Contract administrator fees | $26,649 |
| Investment advisory & management fees | $20,429 |
| Benefits paid out | $15,555,680 |
| Net assets, start / end of year | $164.3M / $190.4M |
| Active participants, start / end of year | 1,634 / 1,773 |
| Participants with account balances | 1,799 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $26,648 reported compensation |
| Next Capital Management LLC | $12,681 reported compensation |
| 25 LLC | $6,973 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010145043NAL0004722643001, received 2025-10-10, EIN 36-2691111, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.