Sheppard Pratt Health System 401(k) Review & Grade
Sheppard Pratt Health System Thrift Plan
Baltimore, MDHealth Care & Social Assistance2,153 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$0Employer $ per active participant
$0Employee $ saved per active participant
0.38%Direct admin cost, % of plan assets
$32.7MNet plan assets, end of year
$18,240Average balance per account
Score breakdown
- Employer generosity0.0 / 500th percentile for employer $ per participant
- Low cost8.0 / 2532th percentile for low admin cost vs. same-size plans
- Employee saving0.0 / 150th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score11 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 0th |
| Lower admin cost | 32th |
| Employee saving | 0th |
| 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
- This plan reported $0 in employer contributions for 2024. Some employers put their money into a separate plan, so check any other plans listed below and ask HR. If there really is no company money, you still get the tax break. Compare the plan's fees and funds with an IRA before deciding where your next dollar goes.
- 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.
- Direct plan expenses (0.38% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $0 |
| Participant (employee) contributions | $0 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $123,021 |
| Investment advisory & management fees | $1,689 |
| Benefits paid out | $2,937,060 |
| Net assets, start / end of year | $31.9M / $32.7M |
| Active participants, start / end of year | 2,535 / 1,771 |
| Participants with account balances | 1,794 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Weyrich Cronin and Sorra LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $121,332 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260408122753NAL0012695075001, received 2026-04-08, EIN 52-0591684, plan #002, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.