Seattle Childrens Healthcare System 401(k) Review & Grade
Seattle Children's Healthcare System Employees Retirement Plan
Seattle, WAHealth Care & Social Assistance10,200 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,952Employer $ per active participant
$7,563Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$1.5BNet plan assets, end of year
$92,767Average balance per account
Score breakdown
- Employer generosity49.6 / 5099th percentile for employer $ per participant
- Low cost17.3 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving14.2 / 1595th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score78 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 99th |
| Lower admin cost | 69th |
| Employee saving | 95th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $226 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Seattle Childrens Healthcare System put in about $5,952 per active participant, more than the typical peer ($2,086). 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 | $60,715,786 |
| Participant (employee) contributions | $77,141,779 |
| Other contributions (incl. rollovers in) | $8,814,565 |
| Administrative expenses paid from the plan | $710,166 |
| Contract administrator fees | $3,300 |
| Investment advisory & management fees | $185,254 |
| Benefits paid out | $82,438,606 |
| Net assets, start / end of year | $1.2B / $1.5B |
| Active participants, start / end of year | 10,042 / 10,359 |
| Participants with account balances | 15,689 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Clark Nuber P.S. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $521,612 reported compensation |
| Strategic Advisors, Inc. | $185,254 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250912121220NAL0001287425001, received 2025-09-12, EIN 91-1250116, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.