Shands Jacksonville Medical Center, Inc. 401(k) Review & Grade
Shands Jacksonville Retirement Plan
Jacksonvile, FLHealth Care & Social Assistance5,426 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,783Employer $ per active participant
$4,689Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$443.3MNet plan assets, end of year
$59,116Average balance per account
Score breakdown
- Employer generosity40.2 / 5080th percentile for employer $ per participant
- Low cost12.6 / 2550th percentile for low admin cost vs. same-size plans
- Employee saving10.1 / 1568th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 50th |
| Employee saving | 68th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $129 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Shands Jacksonville Medical Center put in about $2,783 per active participant, more than the typical peer ($800). 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 | $15,101,641 |
| Participant (employee) contributions | $25,443,010 |
| Other contributions (incl. rollovers in) | $5,293,144 |
| Administrative expenses paid from the plan | $509,001 |
| Contract administrator fees | $509,001 |
| Benefits paid out | $35,422,724 |
| Net assets, start / end of year | $396.1M / $443.3M |
| Active participants, start / end of year | 5,319 / 5,534 |
| Participants with account balances | 7,498 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | James,moore & Co.,p.l.,cpas & Cnslt |
Largest service providers (Schedule C)
| Lincoln National Corporation | $509,001 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014150215NAL0003105857001, received 2025-10-14, EIN 59-2142859, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.