Washington Regional Medical System 401(k) Review & Grade
Washington Regional 401(k) Plan
Fayetteville, ARHealth Care & Social Assistance3,688 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,807Employer $ per active participant
$3,630Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$240.5MNet plan assets, end of year
$88,281Average balance per account
Score breakdown
- Employer generosity33.6 / 5067th percentile for employer $ per participant
- Low cost10.9 / 2544th percentile for low admin cost vs. same-size plans
- Employee saving8.7 / 1558th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 67th |
| Lower admin cost | 44th |
| Employee saving | 58th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Auditor concern: the independent auditor gave a qualified or adverse opinion.
Corrective distributions: the plan refunded $335,244 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Washington Regional Medical System put in about $1,807 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 | $6,665,446 |
| Participant (employee) contributions | $13,389,016 |
| Other contributions (incl. rollovers in) | $1,872,631 |
| Administrative expenses paid from the plan | $338,812 |
| Contract administrator fees | $282,869 |
| Investment advisory & management fees | $55,943 |
| Benefits paid out | $18,912,208 |
| Net assets, start / end of year | $212.7M / $240.5M |
| Active participants, start / end of year | 3,463 / 3,913 |
| Participants with account balances | 2,724 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $282,868 reported compensation |
| NFP Retirement | $56,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008165020NAL0005836369001, received 2025-10-08, EIN 71-0664686, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.