Umass Memorial Health 401(k) Review & Grade
Community Healthlink Section 401(k) Plan
Worcester, MAHealth Care & Social Assistance792 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$699Employer $ per active participant
$1,700Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$23.2MNet plan assets, end of year
$25,797Average balance per account
Score breakdown
- Employer generosity21.1 / 5042th percentile for employer $ per participant
- Low cost11.1 / 2544th percentile for low admin cost vs. same-size plans
- Employee saving5.5 / 1537th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 42th |
| Lower admin cost | 44th |
| Employee saving | 37th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $6,054 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Umass Memorial Health put in about $699 per active participant, below the typical peer ($976). 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 | $553,464 |
| Participant (employee) contributions | $1,345,639 |
| Other contributions (incl. rollovers in) | $99,939 |
| Administrative expenses paid from the plan | $61,538 |
| Investment advisory & management fees | $4,512 |
| Benefits paid out | $3,779,802 |
| Net assets, start / end of year | $22.2M / $23.2M |
| Active participants, start / end of year | 745 / 838 |
| Participants with account balances | 899 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $35,541 reported compensation |
| Cohnreznick LLP | $21,485 reported compensation |
| Strategic Advisors, Inc. | $3,250 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015152502NAL0002547715001, received 2025-10-15, EIN 04-2626179, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.