Steward Health Care 401(k) Review & Grade
Steward Health Care 401(k) Retirement Savings Plan
Dallas, TXHealth Care & Social Assistance19,186 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$259Employer $ per active participant
$4,702Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$1.6BNet plan assets, end of year
$79,824Average balance per account
Score breakdown
- Employer generosity11.8 / 5024th percentile for employer $ per participant
- Low cost13.8 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving7.6 / 1551th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 55th |
| Employee saving | 51th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $691,783 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Steward Health Care put in about $259 per active participant, below the typical peer ($2,086). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $4,972,542 |
| Participant (employee) contributions | $90,216,830 |
| Other contributions (incl. rollovers in) | $13,158,522 |
| Administrative expenses paid from the plan | $1,302,450 |
| Contract administrator fees | $4,800 |
| Investment advisory & management fees | $195,777 |
| Other admin expenses | $90,041 |
| Benefits paid out | $618,954,760 |
| Net assets, start / end of year | $1.8B / $1.6B |
| Active participants, start / end of year | 29,533 / 8,838 |
| Participants with account balances | 19,605 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Johnsono'connorferonandcaruccillp |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $187,027 reported compensation |
| Capfinancial Partners, LLC | $90,041 reported compensation |
| Johnsono'connorferon&car | $52,400 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250530090813NAL0022007090001, received 2025-05-30, EIN 27-2473240, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.