Tanner Memorial Clinic 401(k) Review & Grade
Tanner Memorial Clinic Employee 401(k)profit Sharing Plan
Layton, UTHealth Care & Social Assistance1,122 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,648Employer $ per active participant
$3,401Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$146.2MNet plan assets, end of year
$126,703Average balance per account
Score breakdown
- Employer generosity47.3 / 5095th percentile for employer $ per participant
- Low cost19.9 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving9.1 / 1561th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score79 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 80th |
| Employee saving | 61th |
| 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
- Tanner Memorial Clinic put in about $6,648 per active participant, more than the typical peer ($976). 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 | $7,459,127 |
| Participant (employee) contributions | $3,815,892 |
| Other contributions (incl. rollovers in) | $79,928 |
| Administrative expenses paid from the plan | $110,066 |
| Benefits paid out | $13,992,283 |
| Net assets, start / end of year | $135.5M / $146.2M |
| Active participants, start / end of year | 1,207 / 1,037 |
| Participants with account balances | 1,154 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Karren, Hendrix, Stagg, Allen & Co |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $34,175 reported compensation |
| Khsa | $16,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003130009NAL0001425297004, received 2025-10-03, EIN 87-0218917, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.