Tallahassee Memorial Healthcare Inc 401(k) Review & Grade
Tallahassee Memorial Healthcare 401(a) Retirement Savings Plan
Tallahassee, FLHealth Care & Social Assistance5,186 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,630Employer $ per active participant
$0Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$193.4MNet plan assets, end of year
$43,419Average balance per account
Score breakdown
- Employer generosity39.1 / 5078th percentile for employer $ per participant
- Low cost12.0 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving0.0 / 150th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 48th |
| Employee saving | 0th |
| Peers that auto-enroll | 38% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Tallahassee Memorial Healthcare put in about $2,630 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.
- 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 | $13,641,632 |
| Participant (employee) contributions | $0 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $244,455 |
| Investment advisory & management fees | $13,942 |
| Other admin expenses | $49,310 |
| Benefits paid out | $25,886,737 |
| Net assets, start / end of year | $180.7M / $193.4M |
| Active participants, start / end of year | 5,035 / 5,337 |
| Participants with account balances | 4,455 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Cap Financial Partners, LLC | $80,900 reported compensation |
| Fidelity Investments Institutional | $65,047 reported compensation |
| Strategic Advisors, Inc. | $13,942 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015131120NAL0002462227001, received 2025-10-15, EIN 59-1917016, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.