Presbyterian Health Plan, Inc. 401(k) Review & Grade
Presbyterian Health Plan 401(k) Plan
Albuquerque, NMFinance & Insurance2,021 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,361Employer $ per active participant
$4,587Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$177.9MNet plan assets, end of year
$63,154Average balance per account
Score breakdown
- Employer generosity22.7 / 5045th percentile for employer $ per participant
- Low cost19.6 / 2578th percentile for low admin cost vs. same-size plans
- Employee saving2.8 / 1519th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 78th |
| Employee saving | 19th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $14,941 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Presbyterian Health Plan put in about $3,361 per active participant, below the typical peer ($3,606). 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 | $6,792,166 |
| Participant (employee) contributions | $9,270,715 |
| Other contributions (incl. rollovers in) | $1,302,092 |
| Administrative expenses paid from the plan | $138,136 |
| Benefits paid out | $17,091,577 |
| Net assets, start / end of year | $155.7M / $177.9M |
| Active participants, start / end of year | 2,044 / 1,998 |
| Participants with account balances | 2,817 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Redw LLC |
Largest service providers (Schedule C)
| Fid Inv Inst Ops Co | $117,149 reported compensation |
| Redw | $20,987 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250715090513NAL0002651072001, received 2025-07-15, EIN 94-3037165, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.