University of Maryland Medical System 401(k) Review & Grade
University of Maryland Medical Center Midtown Campus 401(k) Profit Sharing Plan for Union Employees
Baltimore, MDHealth Care & Social Assistance696 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$576Employer $ per active participant
$560Employee $ saved per active participant
0.23%Direct admin cost, % of plan assets
$7.7MNet plan assets, end of year
$16,163Average balance per account
Score breakdown
- Employer generosity19.1 / 5038th percentile for employer $ per participant
- Low cost12.3 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving1.9 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score36 / 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 | 38th |
| Lower admin cost | 49th |
| Employee saving | 13th |
| 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
- University of Maryland Medical System put in about $576 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 | $400,944 |
| Participant (employee) contributions | $389,494 |
| Other contributions (incl. rollovers in) | $23,367 |
| Administrative expenses paid from the plan | $17,183 |
| Contract administrator fees | $10 |
| Investment advisory & management fees | $10,000 |
| Other admin expenses | $797 |
| Benefits paid out | $771,196 |
| Net assets, start / end of year | $6.9M / $7.7M |
| Active participants, start / end of year | 369 / 1,022 |
| Participants with account balances | 479 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clifton Larson Allen LLP |
Largest service providers (Schedule C)
| Wilmington Trust, N.A. | $10,000 reported compensation |
| Cliftonlarsonallen LLP | $3,518 reported compensation |
| Empower Annuity Insurance Company | $2,868 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250908161404NAL0012407427001, received 2025-09-08, EIN 52-1362793, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.