The Valley Hospital 401(k) Review & Grade
401(k) Retirement Savings Plan for Employees of the Valley Hospital
Paramus, NJHealth Care & Social Assistance5,898 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,795Employer $ per active participant
$8,673Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.1BNet plan assets, end of year
$133,067Average balance per account
Score breakdown
- Employer generosity43.4 / 5087th percentile for employer $ per participant
- Low cost20.8 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving14.1 / 1594th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score85 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 83th |
| Employee saving | 94th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,456 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Valley Hospital put in about $3,795 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $22,387,298 |
| Participant (employee) contributions | $51,157,363 |
| Other contributions (incl. rollovers in) | $5,810,956 |
| Administrative expenses paid from the plan | $404,868 |
| Contract administrator fees | $344,249 |
| Investment advisory & management fees | $60,619 |
| Benefits paid out | $70,798,621 |
| Net assets, start / end of year | $930.5M / $1.1B |
| Active participants, start / end of year | 5,712 / 6,085 |
| Participants with account balances | 7,960 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | PKF O'connor Davies, LLP |
Largest service providers (Schedule C)
| Lincoln National Corporation | $344,249 reported compensation |
| The Concord Advisory Group | $60,619 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015153258NAL0010073698001, received 2025-10-15, EIN 22-1487307, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.