Alverno Provena Hospital Laboratories, Inc. 401(k) Review & Grade
Alverno Provena Hospital Laboratories, Inc. Retirement Savings Plan
Hammond, INHealth Care & Social Assistance2,665 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,669Employer $ per active participant
$2,144Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$139.7MNet plan assets, end of year
$30,636Average balance per account
Score breakdown
- Employer generosity32.3 / 5065th percentile for employer $ per participant
- Low cost9.0 / 2536th percentile for low admin cost vs. same-size plans
- Employee saving6.7 / 1544th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score48 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 36th |
| Employee saving | 44th |
| Peers that auto-enroll | 38% |
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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
- Alverno Provena Hospital Laboratories put in about $1,669 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.
- Direct plan expenses (0.19% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $4,448,200 |
| Participant (employee) contributions | $5,714,760 |
| Other contributions (incl. rollovers in) | $385,625 |
| Administrative expenses paid from the plan | $260,173 |
| Contract administrator fees | $260,173 |
| Benefits paid out | $14,295,975 |
| Net assets, start / end of year | $129.0M / $139.7M |
| Active participants, start / end of year | 2,753 / 2,577 |
| Participants with account balances | 4,559 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Valic Retirement Services Company | $260,173 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013112028NAL0000536995001, received 2025-10-13, EIN 20-3238867, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.