Solaris Health Holdings, LLC 401(k) Review & Grade
Solaris 401(k) Plan
FT. Lauderdale, FLHealth Care & Social Assistance5,446 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,459Employer $ per active participant
$3,577Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$464.7MNet plan assets, end of year
$105,329Average balance per account
Score breakdown
- Employer generosity45.7 / 5091th percentile for employer $ per participant
- Low cost8.7 / 2535th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1558th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score63 / 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 | 91th |
| Lower admin cost | 35th |
| Employee saving | 58th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $18,541 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Solaris Health Holdings put in about $4,459 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.
- Direct plan expenses (0.20% of assets) are well above similar-size plans (0.12%). 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 | $24,280,993 |
| Participant (employee) contributions | $19,480,943 |
| Other contributions (incl. rollovers in) | $15,374,718 |
| Administrative expenses paid from the plan | $835,955 |
| Other admin expenses | $179,214 |
| Benefits paid out | $20,313,343 |
| Net assets, start / end of year | $371.4M / $464.7M |
| Active participants, start / end of year | 5,247 / 5,644 |
| Participants with account balances | 4,412 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Skibbie CPA, Inc. |
Largest service providers (Schedule C)
| Summit Equities, Inc. | $372,560 reported compensation |
| LPL Financial- Andy Lubash | $122,500 reported compensation |
| JP Morgan Chase | $85,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015094642NAL0005852960001, received 2025-10-15, EIN 84-4332286, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.