Samaritan Medical Center 401(k) Review & Grade
Samaritan Medical Center/samaritan Keep Nursing Home Retirement Plan
Watertown, NYHealth Care & Social Assistance2,280 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,316Employer $ per active participant
$3,254Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$209.6MNet plan assets, end of year
$91,244Average balance per account
Score breakdown
- Employer generosity37.8 / 5076th percentile for employer $ per participant
- Low cost22.1 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving8.9 / 1559th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 88th |
| Employee saving | 59th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Samaritan Medical Center put in about $2,316 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.
- 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 | $5,280,449 |
| Participant (employee) contributions | $7,420,131 |
| Other contributions (incl. rollovers in) | $812,999 |
| Administrative expenses paid from the plan | $94,395 |
| Benefits paid out | $21,720,962 |
| Net assets, start / end of year | $194.0M / $209.6M |
| Active participants, start / end of year | 2,243 / 2,317 |
| Participants with account balances | 2,297 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Fustcharles, LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $94,395 reported compensation |
| Mid Atlantic Capital Corporation | $0 reported compensation |
| National Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013140212NAL0000685491001, received 2025-10-13, EIN 15-0533577, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.